Bombardier Moving Forward With Tenacity

Bombardier President and Chief Executive Officer Paul M. Tellier says the world leader in rail transportation and aerospace is on track to restore earnings power.

Speaking at the Annual Meeting of Shareholders today in Montréal, Tellier said the Company's three-year plan allows Bombardier to be confident about its future profitability.

"We are asking our shareholders to continue to be patient," Tellier said. "There is light at the end of the tunnel."

Laurent Beaudoin, Executive Chairman of the Board shares Tellier's confidence in Bombardier's business plan. "We have taken measures which will in turn create shareholder value," Beaudoin said. "These are difficult times, but with tenacity and rigour, we will overcome our current challenges, just as we have in the past."

Tellier's speech to shareholders reviewed Bombardier's plan to restructure and restore the Corporation's earnings power.

"We are now involved in the business restructuring phase, the most challenging aspect of our three-year plan," Tellier said. "This phase will take us to the third year of the plan, which is aimed at generating profits."

Tellier detailed for shareholders the initiatives undertaken during the past year to consolidate the businesses, streamline the organization and increase focus on customer needs. He also provided an update on the restructuring plan at Bombardier Transportation, which is progressing as per schedule.

Tellier voiced his views on the state of the business and regional aircraft markets, saying that while "the demand for business aircraft is gradually getting stronger," we continue to work "vigorously with all our partners to find solutions" to the problems of regional aircraft financing.

In terms of the decision to manufacture a larger commercial aircraft, Tellier reiterated that the potential and feasibility of such an initiative is being examined by a multidisciplinary team. He explained that Bombardier will only undertake such a program if there is a well-defined market, a solid profit potential and major comparative advantages in operational efficiency.

Although Tellier sees the challenges ahead, he insisted that the Corporation has made significant progress. About the plan, he said, "we have every reason to believe that it will get us to where we want to be."

About Bombardier
A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2004 were $15.5 billion US and its shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F). News and information are available at Bombardier President and Chief Executive Officer Paul M. Tellier says the world leader in rail transportation and aerospace is on track to restore earnings power.

Speaking at the Annual Meeting of Shareholders today in Montréal, Tellier said the Company's three-year plan allows Bombardier to be confident about its future profitability.

"We are asking our shareholders to continue to be patient," Tellier said. "There is light at the end of the tunnel."

Laurent Beaudoin, Executive Chairman of the Board shares Tellier's confidence in Bombardier's business plan. "We have taken measures which will in turn create shareholder value," Beaudoin said. "These are difficult times, but with tenacity and rigour, we will overcome our current challenges, just as we have in the past."

Tellier's speech to shareholders reviewed Bombardier's plan to restructure and restore the Corporation's earnings power.

"We are now involved in the business restructuring phase, the most challenging aspect of our three-year plan," Tellier said. "This phase will take us to the third year of the plan, which is aimed at generating profits."

Tellier detailed for shareholders the initiatives undertaken during the past year to consolidate the businesses, streamline the organization and increase focus on customer needs. He also provided an update on the restructuring plan at Bombardier Transportation, which is progressing as per schedule.

Tellier voiced his views on the state of the business and regional aircraft markets, saying that while "the demand for business aircraft is gradually getting stronger," we continue to work "vigorously with all our partners to find solutions" to the problems of regional aircraft financing.

In terms of the decision to manufacture a larger commercial aircraft, Tellier reiterated that the potential and feasibility of such an initiative is being examined by a multidisciplinary team. He explained that Bombardier will only undertake such a program if there is a well-defined market, a solid profit potential and major comparative advantages in operational efficiency.

Although Tellier sees the challenges ahead, he insisted that the Corporation has made significant progress. About the plan, he said, "we have every reason to believe that it will get us to where we want to be."

About Bombardier
A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2004 were $15.5 billion US and its shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F). News and information are available at www.bombardier.com.

For information:
Dominique Dionne
Vice President, Communications
+1 514 861-9481
www.bombardier.com

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For information:
Dominique Dionne
Vice President, Communications
+1 514 861-9481
www.bombardier.com