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Gold/Mining/Energy : Bombardier, maker of planes and trains and other things -- Ignore unavailable to you. Want to Upgrade?

To: Gilbert Drapeau who wrote (1008)	7/5/2002 3:08:59 PM
From: Gilbert Drapeau	Read Replies (2) \| Respond to of 1177

Bombardier Announces the Filing of a Claim Against DaimlerChrysler MONTREAL, QUEBEC--JULY 5, 2002 - 12:31 EDT Bombardier filed today a request for arbitration against DaimlerChrysler AG with the International Chamber of Commerce in Paris. Through this request for arbitration, Bombardier is claiming from DaimlerChrysler AG an amount of approximately one billion euros in connection with the acquisition of DaimlerChrysler Rail Systems GmbH (Adtranz). This request for arbitration has been filed under the arbitration process provided for in the Sale and Purchase Agreement. The amount of Bombardier's claim is of the same order as publicly announced by Bombardier on Feb. 14, 2002. The outcome of the arbitration, whether through an award by the arbitral tribunal or a settlement, will result in a reduction of goodwill. The filing of this claim formally launches arbitration proceedings which could last several years. Given that the matter is now before the International Chamber of Commerce, Bombardier is held to a duty of confidentiality until the end of the proceedings and will therefore abstain from commenting further on these proceedings. Bombardier points out that the filing of this claim against DaimlerChrysler does not affect the activities of Bombardier Transportation, which continue on a worldwide basis and are evolving normally. 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 shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).