ALSTOM sells its stake in GTRM

ALSTOM today announced that it has sold its 51% interest in
GT Railway Maintenance Ltd (GTRM), the UK rail infrastructure
maintenance company, to Carillion plc. ALSTOM's decision is in
line with its portfolio review.

GTRM is owned jointly by ALSTOM (51%) and Carillion (49%).
ALSTOM has agreed to sell its stake for a total cash
consideration of 82 million euros (£ 51 million),
including dividends paid prior to completion.

Michel Moreau, President of ALSTOM's Transport Sector, said
: 'Although we have been satisfied with the performance of
GTRM, our European service strategy is centred around
developing an integrated offering to operators and lessors. In
the UK, the operators do not own the infrastructure and
therefore GTRM does not fit this strategy.'

ALSTOM is the global specialist in energy and transport
infrastructure. The Company serves the energy market through
its activities in the fields of power generation, power
transmission and distribution, power conversion and the
transport market through its activities in rail and marine.

Following the sale of its electrical contracting activity,
finalised on 20 July 2001, ALSTOM has annual sales in excess of
22 billion euros and employs 120,000 people in over 70
countries.

The Company is listed on the Paris, London and New York stock
exchanges.

ALSTOM's Transport Sector, with sales of 4.4 billion euros and
a 17% market share, is a leading supplier of rolling stock,
signaling, services and railway systems to the rail industry
world-wide.

Press enquiries:

S. Gagneraud / G. Tourvieille

(Tel. +33 1 47 55 25 87) -
internet.press@chq.alstom.com

Investor relations:

R. Shaw

(Tel.+33 1 47 55 25 78) -
investor.relations@chq.alstom.com

Internet :
http://www.wcm.alstom.com