Bombardier Sells Third Q300 to Egypt's Petroleum Air Services.

Business Editors

TORONTO--(BUSINESS WIRE)--Jan. 22, 2003

Bombardier Aerospace (TSX:BBD.A.TO) (TSX:BBD.B.TO) announced today that Cairo-based Petroleum Air Services (PAS) has placed a firm order for one 50-seat Bombardier Q300(a) to support Egypt's petroleum and tourism sectors. PAS currently operates two Bombardier Q300 aircraft.

The transaction announced today is valued at approximately $14.8 million US ($22.2 million Cdn) and represents the conversion of one of two existing PAS options to a firm order. Delivery of the new aircraft is scheduled for the second quarter of 2003.

Prior to the introduction of the Bombardier Q300 in mid-2002, the PAS fleet consisted of five 50-seat de Havilland(R) Dash 7 turboprops and 23 Bell helicopters.

"We require the additional Q300 because our petroleum and tourism activity is steadily increasing," said General Samir Abdel Salam Youssef, chairman of PAS. "Passenger acceptance of the Q300 in our markets has been extremely gratifying because of the superb Noise and Vibration Suppression (NVS) system, and the aircraft has been performing as promised. We have no hesitation in expanding our Q300 fleet."

PAS flies from Cairo International Airport to a number of petroleum exploration sites within a 700 km (380 nm) radius on behalf of 12 Egyptian and multi-national companies. It also operates charter flights within Egypt and to surrounding countries on behalf of Egypt's tourism sector.

The Bombardier Q Series family includes the 37- to 39-seat Q100(a) and Q200(a), 50- to 56-seat Q300 and 68- to 78-seat Q400. All feature the NVS system, which has established new standards for a quiet passenger cabin.

Bombardier Aerospace, a unit of Bombardier Inc., is a world leader in the design, and manufacture of innovative aviation products and provides services for the regional, business and amphibious aircraft markets. It also offers Bombardier Flexjet(a) fractional ownership, aircraft charter and management, technical services, aircraft maintenance and pilot training for business, regional airline and military customers.

Bombardier Inc., a diversified manufacturing and services company, is a world-leading manufacturer of business jets, regional aircraft, rail transportation equipment and motorized 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 trades on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).

(R) Registered trademarks of Bombardier Inc. or its subsidiaries.

(a) Trademarks of Bombardier Inc. or its subsidiaries.

Note to Editors:

Images of the Petroleum Air Services Bombardier Q300 aircraft are available on our Web site photo gallery at: www.aero.bombardier.com/htmen/F14.jsp