Alcatel Alsthom, The General Electric Company, p.l.c. and ALSTOM Issue Joint Press Release; Success of ALSTOM Flotation.PARIS--(BUSINESS WIRE)--June 22, 1998--The offering price for the global offering of shares of ALSTOM by Alcatel, GEC GEC Gaseous Electronics Conference GEC Gigabit EtherChannel GEC Geriatric Education Center (US government; HRSA) GEC General Electric Co. GEC Google Earth Community (online community) (the "Selling Shareholders") and ALSTOM has been set at FF205 per share, valuing the whole of the issued share capital of the Company at FF22.4 billion and ALSTOM's market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. at more than FF43 billion. Dealings in ALSTOM's shares begin today on the stock exchanges of Paris, its primary listing, London and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . A total of 109,073,172 shares are being made available in the offering, of which 9,756,098 newly-issued ordinary shares are being offered by ALSTOM and 99,317,074 shares are being sold on behalf of the Selling Shareholders, together representing 52 percent of the Company's share capital. In addition, the underwriters have the right to exercise options to purchase a further 11,882,926 shares to cover over-allotment. Applications for shares exceeded those available by over 3 times. In the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the shares are offered pursuant to a prospectus registered with the SEC. Arrangements have also been made for shareholders of Alcatel and GEC to receive a preferential pref·er·en·tial adj. 1. Of, relating to, or giving advantage or preference: preferential treatment. 2. allocation of shares. In total, 211,502 shareholders applied in respect of this offering. Concurrently with the global offering, ALSTOM is making a primary offering of 4 320 558 shares on preferential terms at a price of FF167 to qualifying current employees of ALSTOM and its subsidiaries (the "Employee Offering"). Pierre Bilger, ALSTOM's chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , comments, "We have been delighted by the response to the global offering, to which many of the world's leading institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. , private investors and ALSTOM employees have subscribed. "Both Alcatel's and GEC's shareholders have also demonstrated their commitment to ALSTOM by applying for a significant proportion of the shares on offer. "We begin life as a publicly-quoted company with a quality shareholder base and a sound platform on which to realize our ambitions."
CONTACT: Pangea
Cynthia Reeder/Rene Celestin, 212/280-7891
or
ALSTOM USA
Bob Brown, 914/345-5192
or
ALSTOM, Paris
Jean-Georges Micol, 33.11.47.55.23.45
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