Paul Tellier Becomes President and Chief Executive Officer of Bombardier

Robert E. Brown Leaves The Corporation

Bombardier announced today that Mr. Paul Tellier is appointed president and Chief Executive Officer of Bombardier Inc. and, effective immediately, Mr. Robert E. Brown is leaving the Corporation.

"The Board of Directors, at a special meeting held at the end of the day on Thursday, Dec. 12, 2002, appointed Mr. Paul Tellier, a director of the Corporation and, until now, president and CEO of Canadian National, as president and CEO of Bombardier Inc.," said Mr. Laurent Beaudoin, Chairman of the Board and of the Executive Committee of Bombardier. Mr. Tellier will take up his new responsibilities on Monday, Jan. 13, 2003. In the interim, Mr. Beaudoin will assume the CEO’s functions.

Mr. Paul Tellier has held several top-level positions in the Canadian public service, including Clerk of the Privy Council. He has been president and CEO of the CN since Oct. 6, 1992.

"He is one of the country’s most respected business leaders," Mr. Beaudoin said, "because of his vision, his competence and his leadership. I am very pleased that he has agreed to take up the challenges Bombardier must meet today in a complex environment that also offers good growth prospects."

"Mr. Brown," added Mr. Beaudoin, " asked to be relieved of his functions and the Board of Directors accepted his resignation at the same meeting."

Mr. Brown joined Bombardier in February 1987. He held senior positions at the Corporate level before going to the aerospace sector in 1990. He was president of Canadair and later of the Aerospace Group - North America. In April 1996, he was promoted President and Chief Operating Officer of Bombardier Aerospace, which included Short Brothers. He was appointed President and CEO of Bombardier Inc. in February 1999.

"Throughout his career at Bombardier," Mr. Beaudoin noted, "Mr. Brown’s commitment, dedication and loyalty never failed. I am joined by the members of the Board and of the whole management team in expressing our sincere thanks."

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 Montréal, 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).

For information:
Dominique Dionne
Vice President, Public Relations and Communication
(514) 861-9481