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Gold/Mining/Energy : Bombardier, maker of planes and trains and other things

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To: Gilbert Drapeau who wrote (1093)	4/3/2003 10:32:46 AM
From: Gilbert Drapeau	Read Replies (1) of 1177

BOMBARDIER PRESENTS RECAPITALIZATION PROGRAM FEATURING EQUITY OFFERING AND ASSET DIVESTITURES TORONTO, ONTARIO--APRIL 3, 2003 - 06:00 EST TELLIER SAYS EMPHASIS ON TRANSPARENCY AND ACCOUNTABILITY WILL DRIVE CHANGE IN CORPORATE CULTURE www2.cdn-news.com FINANCIAL RESULTS FOR FISCAL 2003 ARE ANNOUNCED - Equity offering of at least $800 million - Planned divestitures including Bombardier Recreational Products expected to raise in excess of $1.5 billion - Reduction of dividend - Change in governance structure - Bank covenant amended - Bombardier Capital to focus on only two portfolio categories - New accounting policies adopted to enhance investor understanding of the Corporation's performance - Consolidated revenues for fiscal 2003 of $23.7 billion and net loss of $615.2 million after non-cash special items of $1.3 billion ($959.7 million after tax) - Free cash flow of $801.4 million - Order backlog of $44.4 billion

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