Bombardier Announces Closing of a 3.75 Billion Euro Syndicated Credit Facility.

Business Editors

Bombardier (TSX:BBD.A.TO) (TSX:BBD.B.TO) announces today that it has signed a 3.75 billion euro Syndicated Credit Facility agreement on July 10, 2002 with a group of leading international financial institutions. The facility is set up in Europe for the benefit of Bombardier Inc. and that of selected European subsidiaries.

Bombardier attained its objective of increasing the available bank credit lines in Europe by some 500 million euro, which, in the current bank market, is a clear indication of the strong support that Bombardier enjoys from its banks.

HSBC, BNP Paribas, Deutsche Bank, Bayerische Landesbank, Commerzbank and Dresdner Bank, who have jointly arranged the facility as mandated lead arrangers, were joined by eight banks as sub-underwriters and 17 banks joined in the general syndication.

The purpose of the multi-currency facility is primarily to refinance the existing Bombardier 1.7 billion euro syndicated credit facility signed in June 1999 and some bilateral banking facilities previously maintained by Adtranz. The facility is available for standby letters of credit (L/C's), cash advances and back-up for euro commercial paper (CP) Program.

Bombardier Inc., a diversified manufacturing and services company, is a world-leading manufacturer of business jets, regional aircraft, rail transportation equipment and motorised recreational products. It also provides financial services and asset management in business areas aligned with its core expertise. Headquartered in Montreal, Canada, the Corporation has a workforce of some 80,000 people in 24 countries throughout the Americas, Europe and Asia-Pacific. Its revenues for the fiscal year ended Jan. 31, 2002 stood at $21.6 billion Cdn. Bombardier shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).