ALSTOM wins a 1 billion euros contract in Malaysia

ALSTOM has been awarded a turnkey contract worth over 1
billion euros for a 2100 MW coal fired power plant at Manjung
in Perak State, Malaysia.

The signing ceremony for the contract and associated export
credit loans took place in Kuala Lumpur earlier today in the
presence of the Malaysian Deputy Prime Minister, Datuk Seri
Abdullah Ahmad Badawi, the Minister of Energy, Communications
and Multimedia, Datuk Leo Moggie and the Chairman of Tenaga
Nasional Berhad (TNB), Tan Sri Datuk Dr. Ahmad Tajuddin
Ali.

The order was placed by TNB JANAMANJUNG Sdn Bhd (TNBJ), a
wholly owned subsidiary of TNB to a consortium formed by ALSTOM
and PEREMBA Construction Sdn Bhd. The export credit facility is
led by UK's ECGD, supported by COFACE of France, with HSBC as
the arranging bank.

The power station will comprise 3 x 700 MW units designed to
ensure efficient and economic power production. ALSTOM, as
consortium leader, will supply the main equipment including the
boilers, steam turbines and generators. PEREMBA Construction
Sdn Bhd will be participating in the erection, the civil works
elements and the main electrical and C&I equipment.

Work will begin on the station in July 1999 and the first
unit is scheduled to begin commercial operation in September
2002. These 700 MW units, will be the largest in Malaysia.

Nick SALMON, President of ALSTOM Energy, said 'We are
honoured to be working with TNBJ on this most important and
prestigious contract. With our Malaysian partners we look
forward to its unqualified success. In particular I must thank
the export credit agencies for their support in securing this
major export order'.

Datuk Mohd Razali Abdul Rahman, Chairman of PERAMBA, said
'As one of the leading Malaysian construction companies, we are
proud to be associated with ALSTOM Energy and to be working
with TNBJ on this very important project. The signing of these
agreements signifies the continued confidence of the
international community in the recovery of the Malaysian
economy and will be a major boost for the Malaysian
construction industry.'