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ALSTOM Wins Carnival Contract

Maritime Activity Reports, Inc.

May 19, 2005

The Power Conversion Business of ALSTOM has been awarded a multi-million euro contract by Fincantieri to supply electric propulsion systems for two new cruise ships, one for Carnival Cruises to be built at the Marghera yard and one for Costa Crociere at the Sestri Ponente yard in Genoa.

Both ships are to be delivered in the first half of 2007 and are the sister ships of Carnival Liberty and Costa Concordia, currently being built at Fincantieri - with an ALSTOM electric propulsion system - and expected to be delivered in Summer 2005 and Summer 2006 respectively.

The new ships will be used for year-round worldwide cruising. The Carnival cruise ship will carry 3,710 passengers and the Costa 3,800 passengers.

For each vessel, ALSTOM will supply two synchronous propulsion motors of 20MW for Carnival and 21MW for Costa and the associated electric drives. ALSTOM will also provide the propulsion control systems including remote control as well as the harmonic filtering and 11kV distribution systems.

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