ALSTOM wins multi-million freight car order in
Canada

ALSTOM has won an order worth around 200 million euros to
supply First Union Rail Corporation, the freight leasing arm of
First Union National Bank, with 3100 freight cars. The contract
calls for ALSTOM to supply four different types of cars, over a
period of five years.

Manufacture of the freight cars will be carried out at
ALSTOM's plant in Montreal, Canada. Work will begin during the
summer of 1999, and the pace of production will be geared to
the customer's readiness to take delivery.

ALSTOM is currently supplying First Union Rail Corporation
with 500 steel coil freight cars. 'This contract demonstrates
ALSTOM's ability to establish strong relationships, not only
with Class I railroads, but also with leasing companies who are
increasingly dominant in the freight market, allowing us to
increase our market share', commented James Cherry, President
of ALSTOM Canada Transport. Jack Thomas, President of First
Union Rail Corporation, added: 'This strategic alliance offers
First Union Rail the opportunity to quickly and accurately
react to the rail car marketplace demand for new, high quality
equipment, while providing to ALSTOM the building block of a
secure order position for several thousand cars.'

This latest contract with First Union Rail Corporation
complements ALSTOM's already strong position in the North
American transit market, following orders from the Chicago and
New York subways and New Jersey Transit. ALSTOM is also
involved in the design, manufacture and maintenance of Amtrak's
high speed 'Acela' trains to link Washington, New York and
Boston, the 'North-East Corridor'.