ALSTOM to build two cruise ships

ALSTOM has won an order to supply Festival Cruises with two
new cruise ships, one of which is on option.

The 625-cabin (1,250 passenger) ships, will be built at
Saint Nazaire, Western France, by ALSTOMs Chantiers de
lAtlantique subsidiary. They are scheduled to enter
service, for a predominantly European market, at the beginning
of 2001 and 2002 respectively.

The exterior design of the ships will be identical to that
of the Mistral; ordered in 1997 and currently nearing
completion at Chantiers de lAtlantique, it is scheduled
for delivery in June 1999.

The new cruise ships will be equipped with an innovative
pods propulsion system, adjustable over
360°, which combines maximum manoeuvrability and powerful
propulsion with reduced noise and vibration levels.

This is Chantiers de l'Atlantique's first contract signed in
euros. It is expected to come into force during the month of
March, as soon as Festival Cruises has finalised the financial
arrangements.

The order book of ALSTOMs Marine sector now comprises
twelve cruise ships (one of which is on option), two high-speed
ferries, seventeen tug boats and one seismic research
vessel.