Comunicati Stampa

Performance07/12/2009 8:00 (MEZ)

SIX Svizzera
Corso di borsa	CHF 76,00
Valore intrinseco (NAV)	CHF 94,15
Premio/(-sconto)	-19,28 %
TecDax Germania
Corso di borsa	EUR 50,50
Valore intrinseco (NAV)	EUR 62,35
Premio/(-sconto)	-19,01 %
All Star Italia
Corso di borsa	EUR 50,50
Valore intrinseco (NAV)	EUR 62,35
Premio/(-sconto)	-19,01 %

Andamento del titolo (SIX), dividendo rettificato
	Share price	Net Asset Value (NAV)
Andamento della quotazione di borsa per l esercizio in corso (dal 1° gennaio 2008)	+13,9 %	+4,3 %
Performance della quotazione di borsa dalla fondazione (nov . 1993)	+273,0 %	+352,2 %
Performance annualizzata della quotazione di borsa dalla fondazione	+8,5 %	+9,8 %
Outperformance (NAV) rispetto al Nasdaq Biotechnology Index dalla fondazione		+264,5 %
Dividendo 2008		CHF 1 . 80

Copyright Hugin Questo comunicato é distribuito da Hugin . L emittente è l unico responsabile per il contenuto del comunicato . [CN#161137]

Comunicato stampa04 dicembre 2009Per ulteriori informazioni, contattare:Beat Werder +33 (0)1 46 98 71 39Chief Communications OfficerMarco Circelli +44 (0)20 3207 8561Head of Group Corporate Finance & Financial CommunicationsSCOR finalizza l acquisizione di XL Re Life America Inc . SCOR Global Life US (SGLUS), filiale al 100% del gruppo SCOR, ha completato le formalità per l acquisizione, da XL Capital Ltd, di tutto il capitale azionario di XL Re Life America Inc . (XLRLA) . L operazione era stata annunciata inizialmente il 22 luglio 2009 . Questa acquisizione permetterà a SCOR Global Life di ampliare la sua offerta di assicurazione morte e di rafforzare il suo posizionamento negli Stati Uniti . Dimostra anche che SCOR continua il suo collocamento sul principale mercato di riassicurazione Vita del mondo . Questa acquisizione non dovrebbe generare nessun goodwill . With its retention of the XLRLA team, SGLUS has enhanced its staff and ensured that it will have the resources to continue to provide the same level of excellent services for both existing clients and the new clients acquired through the XLRLA transaction . ** *Forward-looking statementsSCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission . Thus, any forward- . looking statements contained in this communication should not be held as corresponding to such profit forecasts . Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact . Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could . " Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand . Additional information regarding risks, uncertainties and pending litigations is set forth in the 2008 reference document registered with the AMF under number D . 09-0099 ("Document de Référence") and subsequently updated in the half year report, both available on SCOR website www . scor . com . As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings . Copyright Hugin Questo comunicato é distribuito da Hugin . L emittente è l unico responsabile per il contenuto del comunicato . [CN#161147]

REXEL: Rexel lancia l offerta di obbligazioni inaugurali di riferimento Euro Notes, come parte del rifinanziamento della sua esistente facilitazione creditizia seniorNON PER DISTRIBUZIONE, DIRETTAMENTE O INDIRETTAMENTE, NEGLI STATI UNITI, CANADA, AUSTRALIA O GIAPPONEIl presente documento non costituisce un offerta di vendita di titoli o una sollecitazione a fare un offerta per la sottoscrizione di titoli in Francia, negli Stati Uniti o in altre giurisdizioni . I titoli qui descritti non possono essere offerti o venduti negli Stati Uniti, e a o per beneficio di persone residenti negli Stati Uniti ("U . S . persons"), in mancanza di registrazione o di un esenzione dall obbligo di registrazione ai sensi del U . S . Securities Act del 1933, come successivamente modificato (il "Securities Act") . The Notes of Rexel have not been and will not be registered under Securities Act and Rexel does not intend to make a public offer of its securities in the United States . The offer and sale of the Notes in France will be carried out through a private placement to qualified investors, in accordance with article L . 411-2 of the French Financial and Monetary Code and other applicable laws and regulations . There will be no public offering in France . Rexel launches inaugural benchmark Euro Notes offering as part of the refinancing of its existing senior credit facilityRexel announced today that it is seeking to raise an amount of E500 million of senior unsecured notes due 2016 (the "Notes"), market conditions permitting . Upon the successful completion of this Notes offering, Rexel would refinance the remainder of its existing senior credit facility dated December 19, 2007 as amended on July 30, 2009, through a new E1 . 7 billion senior credit facility (the "Refinancing Transactions") . Through the Refinancing Transactions, Rexel will enhance its financial flexibility by diversifying its investor base through access to the debt capital market and will extend its debt maturity profile . The completion of the Refinancing Transactions is expected to take place before year-end 2009 and is subject to market conditions . About the Notes issuanceRexel is seeking to raise E500 million of senior unsecured 7-year Notes that will be non callable for four years . The Notes will rank pari passu with Rexel s new senior credit facility and will be guaranteed by certain of Rexel s subsidiaries, which will also guarantee the obligations of Rexel under the new senior credit facilities . The Notes will be offered only to institutional investors outside the United States and are expected to be listed on the Luxembourg Stock Exchange (Euro MTF) . Rexel is expected to be rated by Moody s, Fitch and Standard & Poor s . Ratings announcements are expected to be released shortly by the respective rating agencies . CALYON, The Royal Bank of Scotland plc and BofA Merrill Lynch will act as Joint Global Coordinators and Joint Bookrunners for the Notes offering . BNP Paribas, HSBC and Natixis will act as Joint Bookrunners . CM-CIC Securities, ING and Société Générale Corporate & Investment Banking will act as Co-Lead Managers . BayernLB will act as Co-Manager . The delivery and settlement is expected to close around December 18, 2009 . About the new senior credit facilitiesConcurrently with the offering of the Notes, Rexel has signed an agreement with a syndicate of lenders to enter into a new senior credit agreement which will replace the existing senior credit agreement . The obligations of Rexel under the new senior credit facilities will rank pari passu with the Notes and will be guaranteed by the same guarantors as the Notes . The new senior credit facilities are conditional to the closing of the offering of the Notes . The E1 . 7 billion new senior credit facilities have been entered into with BNP Paribas, CALYON, CM-CIC, HSBC France, Natixis, as Mandated Lead Arrangers and Bookrunners, and ING, The Royal Bank of Scotland plc, Société Générale Corporate & Investment Banking and Banc of America Securities Limited, as Mandated Lead Arrangers . CALYON will act as Facility Agent . The new senior credit agreement comprises two revolving credit facilities structured as follows:- a three-year multi-currency revolving credit facility in an initial amount of E600 million, which will reduce to E400 million after one year and to E200 million after two years (Facility A); and- a five-year multi-currency revolving credit facility in an amount of E1,100 million (Facility B) . The interest rates in the new senior credit facilities are slightly lower than those in the existing senior credit agreement . The financial covenants in the new senior credit agreement are similar to those in the existing senior credit agreement, including the ratio of consolidated total net financial indebtedness to consolidated adjusted EBITDA (declining from 5 . 15x for the period ended December 31, 2009 to 3 . 50x for the period ended December 31, 2012 and thereafter) . Proceeds of the Refinancing Transactions will be used to refinance the existing senior credit agreement, finance working capital needs and for general corporate purposes of the Group, including the financing or refinancing of acquisitions . For further information, please contact:Financial Analysts / Investors PressMarc Maillet Pénélope Linage( +33 1 42 85 76 12 ( +33 1 42 85 76 28mmaillet@rexel . com plinage@rexel . comBrunswickThomas Kamm( +33 1 53 96 83 92tkamm@brunswickgroup . comRexel, a global leader in the distribution of electrical supplies, serves three main end markets: industrial, commercial and residential . The Group operates in 34 countries, with a network of some 2,300 branches, and employs 30,000 people . Rexel s pro forma sales were E13 . 7 billion in 2008 . Its majority shareholders are an investor group led by Clayton, Dubilier & Rice, Eurazeo and Merrill Lynch Global Private Equity . Rexel is listed on the Eurolist market of Euronext Paris (compartment A, ticker RXL, ISIN code FR0010451203) . It is integrated in the following indices: NEXT 150, SBF 120, and CAC Mid 100 . For more information, visit Rexel s web site at www . rexel . comDisclaimerNo communication and no information in respect of the offering by Rexel of notes (the "Notes") may be distributed to the public in any jurisdiction where a registration or approval is required . No steps have been or will be taken in any jurisdiction where such steps would be required . The offering or subscription of the Notes may be subject to specific legal or regulatory restrictions in certain jurisdictions . Rexel takes no responsibility for any violation of any such restrictions by any person . This announcement is not a prospectus within the meaning of Directive 2003/71/EC of the European Parliament ant the Council of November 4, 2003, as implemented in each member State of the European Economic Area (the "Prospectus Directive") . This announcement does not, and shall not, in any circumstances constitute a public offering nor an invitation to the public in connection with any offer in any jurisdiction . The offer and sale of the Notes in France will be carried out through a private placement to qualified investors, in accordance with article L . 411-2 of the French Financial and Monetary Code and other applicable laws and regulations . There will be no public offering in France . With respect to the member States of the European Economic Area, other than France, which have implemented the Prospectus Directive (each, a "relevant member State"), no action has been undertaken or will be undertaken to make an offer to the public of the Notes requiring a publication of a prospectus in any relevant member State . As a result, the Notes may only be offered in relevant member States: (a) to legal entities which are authorized or regulated to operate in the financial markets or, if not so authorized or regulated, whose corporate purpose is solely to place securities, (b) to any legal entity which has two or more of the following criteria: (1) an average of at least 250 employees during the last financial year; (2) a total balance sheet of more than E43 million; and (3) an annual net turnover of more than E50 million, as per its last annual or consolidated accounts, (c) in any other circumstances, not requiring the issuer to publish a prospectus as provided under article 3(2) of the prospectus directive . This communication does not constitute an offer to the public in the United Kingdom . No prospectus has been or will be approved in the United Kingdom in respect of the Notes . The distribution of this press release is not made, and has not been approved, by an "authorised person" within the meaning of Article 21(1) of the Financial Services and Markets Act 2000 . As a consequence, this press release is directed only at persons who (i) are located outside the United Kingdom, (ii) have professional experience in matters relating to investments and fall within Article 19(5) ("investment professionals") of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005, (iii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc . ") of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 or (iv) are persons to whom this communication may otherwise lawfully be communicated (all such persons together being referred to as "Relevant Persons") . The Notes are directed only at Relevant Persons and no invitation, offer or agreements to subscribe, purchase or otherwise acquire Notes may be proposed or made other than with Relevant Persons . Any person other than a Relevant Person may not act or rely on this document or any provision thereof . This press release is not a prospectus which has been approved by the Financial Services Authority or any other United Kingdom regulatory authority for the purposes of Section 85 of the Financial Services and Markets Act 2000 . This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States . The Notes have not been and will not be registered under the Securities Act, or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U . S . persons, as such term is defined in Regulation S under the Securities Act ("Regulation S"), expect pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act . The Notes are being offered and sold only outside the United States to non-U . S . persons in "offshore transactions" as defined in and in accordance with Regulation S . Rexel does not intend to register any portion of the offering in the United States or to conduct an offering of securities in the United States . In connection with the sale of the Notes, one or more parties named as the stabilizing manager(s) (or persons acting on behalf of any stabilizing manager(s)) may over allot Notes or effect transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail . However, there is no assurance that the stabilizing manager(s) (or persons acting on behalf of any stabilizing manager(s)) will undertake stabilization action . Any stabilization action may begin on or after the date on which adequate public disclosure of the terms of the offer of the Notes is made and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days after the issue date of the Notes and 60 days after the date of the allotment of the Notes . Any stabilization action or over allotment must be conducted by the relevant stabilizing manager(s) (or person(s) acting on behalf of any stabilizing manager(s)) in accordance with all applicable laws and rules . The distribution of this document in certain countries may constitute a breach of applicable law . The information contained in this document does not constitute an offer of securities for sale in the United States, Canada, Japan or Australia . This press release may not be published, forwarded or distributed in the United States, Canada, Australia or Japan . Copyright Hugin Questo comunicato é distribuito da Hugin . L emittente è l unico responsabile per il contenuto del comunicato . [CN#161149]

Comunicato stampa07 dicembre 2009Per informazioni ulteriori si prega di contattare:Beat Werder +33 (0)1 46 98 71 39Chief Communications OfficerMarco Circelli +44 (0)20 3207 8561Head of Group Corporate Finance & Financial CommunicationsSCOR vince il premio "Riassicuratore europeo dell anno"della rivista ReinsuranceI lettori della rivista Reinsurance hanno nominato per l anno in corso SCOR " Riassicuratore europeo dell anno" fra i premiati dai lettori della rivista . Questi premi sono organizzati una volta all anno e danno a tutti i lettori di Reinsurance, in particolare gli operatori di riassicurazioni, acquirenti e venditori, l occasione di votare sul web per i loro riassicuratori preferiti . Reinsurance è una delle pubblicazioni leader del settore della riassicurazione con lettori in tutto il mondo . SCOR Chairman and CEO Denis Kessler commented: "SCOR is pleased to have won the European Reinsurer of the Year Award , as voted for by the readers of Reinsurance magazine . We see this award as recognition of the fact that the Group has repeatedly been able to demonstrate its very strong franchise value, delivering positive results for 20 consecutive quarters despite the advent of the first genuinely global financial crisis . Our traditional and cautious business approach, combined with conservative, cash-oriented financial management, has enabled us to weather the financial storm and to continue to provide our clients with reinsurance skills and capacity . We would like to thank the readers of Reinsurance for bestowing this award on SCOR" . In 2009 SCOR has repeatedly been selected for major industry awards . Most recently, in July 2009, Environmental Finance magazine named SCOR as the winner of this year s "Catastrophe Risk Transaction of the Year" award for its "Atlas V" transaction . In March 2009, SCOR won an award for "Best International Reinsurer on the Russian Market in 2008" at the thirteenth Russian Reinsurance Conference, organised in Moscow by the All-Russian Insurance Association (ARIA) . In February 2009, SCOR Global Life UK won three prestigious awards in the Redmayne Report on Reassurance 2008: "Best Overall Reinsurer", "Best Client Focus" and "Reinsurance Personality" . Finally, in January 2009 the leading international financial risk publication Risk Magazine named SCOR as "Insurance Risk Manager of the Year" for a proprietary software tool that the company has developed called the "Economic Scenario Generator (ESG)" . The award was bestowed on Michel Dacorogna, Head of Group Financial Analysis and Risk Modelling and project leader . The Risk Magazine Awards are designed to recognise best practice and innovation in risk management on the financial and derivatives markets . ** *Forward-looking statementsSCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission . Thus, any forward- . looking statements contained in this communication should not be held as corresponding to such profit forecasts . Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact . Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could . " Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand . Additional information regarding risks, uncertainties and pending litigations is set forth in the 2008 reference document registered with the AMF under number D . 09-0099 ("Document de Référence") and subsequently updated in the half year report, both available on SCOR website www . scor . com . As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings . Copyright Hugin Questo comunicato é distribuito da Hugin . L emittente è l unico responsabile per il contenuto del comunicato . [CN#161158]

Performance04/12/2009 8:00 (MEZ)

SIX Svizzera
Corso di borsa	CHF 75,00
Valore intrinseco (NAV)	CHF 93,35
Premio/(-sconto)	-19,66 %
TecDax Germania
Corso di borsa	EUR 50,30
Valore intrinseco (NAV)	EUR 61,95
Premio/(-sconto)	-18,81 %
All Star Italia
Corso di borsa	EUR 50,00
Valore intrinseco (NAV)	EUR 61,95
Premio/(-sconto)	-19,29 %

Andamento del titolo (SIX), dividendo rettificato
	Share price	Net Asset Value (NAV)
Andamento della quotazione di borsa per l esercizio in corso (dal 1° gennaio 2008)	+12,4 %	+3,4 %
Performance della quotazione di borsa dalla fondazione (nov . 1993)	+268,1 %	+348,3 %
Performance annualizzata della quotazione di borsa dalla fondazione	+8,5 %	+9,8 %
Outperformance (NAV) rispetto al Nasdaq Biotechnology Index dalla fondazione		+571,4 %
Dividendo 2008		CHF 1 . 80

Copyright Hugin Questo comunicato é distribuito da Hugin . L emittente è l unico responsabile per il contenuto del comunicato . [CN#161077]

Rexel, leader mondiale nella distribuzione di materiale elettrico, tiene oggi a Lione un "Investor Day" . Durante questo meeting, che comprende una visita tecnica di presentazione delle sue attività in Francia, Rexel aggiornerà il mercato sulla crescita strategica del Gruppo . Rexel presenterà la sua roadmap strategica, che punta a consolidare la leadership del Gruppo sul mercato:- Afferrando le opportunità che offre il mercato, attraverso la massima attenzione rivolta a ben identificati fattori di crescita . Concentrando sforzi e risorse sull efficienza energetica, sulle soluzioni di energia rinnovabile e offrendo servizi a valore aggiunto per progetti su larga scala, Rexel intende generare vendite supplementari annue per circa 400 milioni di E di qui al 2012 . In addition, Rexel intends to continue leading the consolidation of the global electrical-supply market through acquisitions that aim either at increasing the Group s market share in the mature European and North American markets or expanding its presence in emerging markets, particularly China, South-East Asia and India . - Upgrading its business model to continue Rexel s evolution towards higher value-added services . By developing its multi-channel offer and achieving greater back-office rationalization, Rexel will free up resources to provide its clients with customized solutions . - Enhancing profitability in selected markets . By better capitalizing on its dual network in the United States and improving the performance of selected European assets acquired from Hagemeyer, Rexel can leverage its leadership position to enhance profitability . - Continuing the deleveraging and strengthening of its balance-sheet . After increasing its financial flexibility through covenant renegotiation last July and significantly reducing its indebtedness, Rexel is considering the possibility of tapping the bond market in the near-term, market conditions permitting, in order to extend the maturity of its financing . OutlookDuring the Investor Day, Rexel will update the market on its 2009 outlook:Full-year sales should be in the range of E11 . 2 billion to E11 . 3 billionAdjusted EBITA margin should be close to 4 . 0%Net debt at year-end should be below E2 . 5 billion, down by at least E400 million year-on-yearOver the medium-term, in a stabilized environment, Rexel should post organic growth of at least 1 percentage point above the GDP of the regions in which the Group operates, significantly improve its profitability and generate a sustained level of free cash flow before interest and tax . Jean-Charles Pauze, Chairman of the Management Board and CEO, said:"Rexel has a clear medium-term roadmap to seize opportunities as markets progressively improve . Rexel s teams and resources are fully mobilized to implement our strategy and provide our clients with the value-added services and solutions which will drive our profitable growth and further reinforce our market leadership . "Financial informationA slideshow of the presentations held during the Investor Day will be available on the Company s website at 12pm (CET time) . CalendarFebruary 11, 2010: Fourth-quarter and full-year 2009 results . For further information, please contact:

Financial Analysts / Investors	Press
Marc Maillet	Pénélope Linage
Tel +33 1 42 85 76 12	Tel +33 1 42 85 76 28
mmaillet@rexel . com	plinage@rexel . com
	Brunswick
	Thomas Kamm
	Tel +33 1 53 96 83 92
	tkamm@brunswickgroup . com

Copyright Hugin Questo comunicato é distribuito da Hugin . L emittente è l unico responsabile per il contenuto del comunicato . [CN#161090]

MONTREAL, QUEBEC--(Marketwire - 3 dicembre 2009) - Bombardier Inc . (TSX: BBD . A)(TSX: BBD . B)(Tutte le cifre di questo comunicato stampa sono in dollari USA eccetto dove indicato)- Utili consolidati di 4,6 miliardi di %24;, in linea con l ultimo anno fiscale- EBITDA di 388 milioni di %24;, contro i 435 milioni di %24; dell ultimo anno fiscale- EBIT di 262 milioni di %24;, contro i 296 milioni di %24; dell ultimo anno fiscale- Reddito netto di 168 milioni di %24;, contro i 226 milioni di %24; dell ultimo anno fiscale- Utile per azione di 0,09 %24;, contro i 0,12 %24; dell ultimo anno fiscale- Free cash flow of %24;72 million, compared to a usage of %24;226 million last fiscal year- Strong cash position at %24;3 billion- Backlog of %24;47 . 4 billion- Landmark order to supply 80 ZEFIRO 380 very high speed trains in China- Subsequent to quarter end, order for 22 CRJ700 regional jetsBombardier today reported its financial results for the third quarter ended October 31, 2009 . Revenues reached the same level as last year at %24;4 . 6 billion . Earnings before financing income, financing expense and income taxes (EBIT) totalled %24;262 million, compared to %24;296 million last fiscal year, while the EBIT margin reached 5 . 7% compared to last year s 6 . 5% . Net income amounted to %24;168 million, compared to %24;226 million for the same period last fiscal year . Free cash flow (cash flows from operating activities less net additions to property, plant and equipment and intangible assets) stood at %24;72 million for the third quarter, compared to a free cash flow usage of %24;226 million for the same period last fiscal year . The cash position remains strong at %24;3 billion, compared to %24;3 . 5 billion as at January 31, 2009 . The overall backlog stood at %24;47 . 4 billion, compared to %24;48 . 2 billion as at January 31, 2009 . "Despite early signs of a recovery, the economic environment remains difficult and continued to impact our activities and financial results, especially in Bombardier Aerospace", said Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc . "However, Bombardier Transportation continues to improve its revenues, profitability and order intake . ""Our backlog and balance sheet are strong . Both groups continue to look for ways to reduce overall costs in their operations and improve their working capital, while maintaining investments in new product development . We will be ready when the economy recovers", concluded Mr . Beaudoin . Bombardier AerospaceBombardier Aerospace s revenues amounted to %24;2 . 1 billion, compared to %24;2 . 3 billion last fiscal year . EBIT totalled %24;103 million, or 5% of revenues, compared to %24;176 million, or 7 . 7%, for the same period last fiscal year . Free cash flow for the third quarter ended October 31, 2009 reached %24;61 million compared to %24;9 million for the same period last fiscal year . The backlog stood at %24;18 . 1 billion as at October 31, 2009, compared to %24;23 . 5 billion as at January 31, 2009 . Although the business aircraft market is still experiencing difficulties, there are some signs of stabilization . Bombardier Business Aircraft net orders for the third quarter ended October 31, 2009 returned to a positive position for the first time since the third quarter of last fiscal year . Bombardier Commercial Aircraft experienced a low level of order intake during the three-month period ended October 31, 2009 reflecting the significantly reduced demand for commercial aircraft, consistent with the current worldwide economic environment . However, subsequent to quarter end, AMR Eagle Holding Corporation, the parent company of American Eagle Airlines, Inc . , signed a firm order agreement for 22 CRJ700 regional jets, for a value of approximately %24;779 million . The transaction represents the conversion of 22 of the options held by the airline . Despite this recent order, projected CRJ aircraft sales remain insufficient to maintain the current production plan . Bombardier Aerospace thus announced on November 26 a further reduction of the CRJ aircraft production rates . Total deliveries of 61 aircraft compare to 80 for the same period last fiscal year with the Commercial Aircraft segment contributing 27 of these deliveries compared to 22 last fiscal year . Bombardier Aerospace continues to invest in products, such as the CRJ1000 NextGen regional jet, the Global Vision flight deck, the Learjet 85 and the CSeries aircraft . Highlights of the CSeries program include the groundbreaking of the new testing facility in Mirabel, Canada, and the construction of a new state-of-the-art aircraft wing manufacturing and assembly facility in Belfast, Northern Ireland . Bombardier TransportationBombardier Transportation revenues rose to %24;2 . 5 billion, a %24;254-million increase over the same period last fiscal year . EBIT reached %24;159 million, up from %24;120 million a year ago, while EBIT margin increased to 6 . 3% versus 5 . 3% . Free cash flow reached %24;32 million, compared to a usage of %24;243 million last fiscal year . The order backlog stood at %24;29 . 3 billion as at October 31, 2009, compared to %24;24 . 7 billion as at January 31, 2009, mainly due to a positive currency impact . Economic uncertainty continues to affect the rail industry with low funding availability for the private sector and an ongoing decline in freight traffic . As a result, Bombardier Transportation s freight locomotives and services segments are seeing a lower level of activity . On a positive note, Bombardier Transportation reported new orders worth %24;3 . 6 billion, compared to %24;2 . 8 billion last fiscal year, leading to a book-to-bill ratio of 1 . 4 . In September 2009, Bombardier Sifang Transportation won a %24;4 billion landmark contract to supply 80 ZEFIRO 380 very high speed trains capable of speeds of up to 380 km/h for the Chinese Ministry of Railways . Bombardier s share of the contract is worth %24;2 billion . The group also signed a contract for 99 FLEXITY trams, valued at %24;431 million, for Berlin s transport operator BVG (Berliner Verkehrsbetriebe) . Subsequent to the quarter, Bombardier Transportation received an order for 100 E464 locomotives from Trenitalia, Italian Railways, amounting to approximately %24;383 million . Financial highlights(Unaudited, in millions of U . S . dollars, except per share amounts, whichare shown in dollars)

										Three-month	periods
										ended	October	31
						2009						2008
											Restated(1)
		BA		BT		Total		BA		BT		Total
Revenues	$	2,064	$	2,533	$	4,597	$	2,292	$	2,279	$	4,571
EBITDA	$	197	$	191	$	388	$	288	$	147	$	435
Amortization		94		32		126		112		27		139
EBIT	$	103	$	159		262	$	176	$	120		296
Financing income						-29						-80
Financing expense						70						105
EBT						221						271
Income taxes						53						45
Net income					$	168					$	226
Attributable to:
Shareholders of Bombardier Inc .					$	167					$	222
Non-controlling interests					$	1					$	4
Basic & diluted EPS (in dollars)					$	0 . 09					$	0 . 12
Segmented free cash flow	$	61	$	32	$	93	$	9	$	-243	$	-234
Income taxes and net financing expense						-21						8
Free cash flow					$	72					$	-226

										Nine-month	periods
										ended	October	31
						2009						2008
											Restated(1)
		BA		BT		Total		BA		BT		Total
Revenues	$	6,682	$	7,332	$	14,014	$	7,188	$	7,104	$	14,292
EBITDA	$	648	$	531	$	1,179	$	947	$	460	$	1,407
Amortization		281		88		369		322		94		416
EBIT	$	367	$	443		810	$	625	$	366		991
Financing income						(87)						(223)
Financing expense						210						305
EBT						687						909
Income taxes						159						195
Net income					$	528					$	714
Attributable to:
Shareholders of Bombardier Inc .					$	521					$	699
Non-controlling interests					$	7					$	15
Basic & diluted EPS (in dollars)					$	0 . 29					$	0 . 39
Segmented free cash flow	$	(479)	$	(79)	$	(558)	$	399	$	120	$	519
Income taxes and net financing expense						(169)						(86)
Free cash flow					$	(727)					$	433

(1) Restated following a change in accounting policy related to a newaccounting principle on fair value measurements and following our earlyadoption of section 1602 "Non-controlling interests" . BA: Bombardier Aerospace; BT: Bombardier TransportationFINANCIAL RESULTS FOR THE THIRD QUARTER ENDED OCTOBER 31, 2009ANALYSIS OF RESULTSConsolidated resultsConsolidated revenues totalled %24;4 . 6 billion for the third quarters ended October 31, 2009 and 2008 . For the nine-month period ended October 31, 2009, consolidated revenues reached %24;14 billion, compared to %24;14 . 3 billion for the same period last year . For the third quarter ended October 31, 2009, EBIT amounted to %24;262 million, or 5 . 7% of revenues, compared to %24;296 million, or 6 . 5%, for the same period the previous year . For the nine-month period ended October 31, 2009, EBIT amounted to %24;810 million, or 5 . 8% of revenues, compared to %24;991 million, or 6 . 9%, for the same period last fiscal year . Net financing expense came to %24;41 million for the three-month period ended October 31, 2009, compared to %24;25 million for the corresponding period last year . For the nine-month period ended October 31, 2009, net financing expense totalled %24;123 million, compared to %24;82 million for the same period last year . The %24;16-million and %24;41-million increases for the three- and nine-month periods are mainly due to lower interest income, consistent with lower variable interest rates, and a lower average level of cash on hand and a lower level of invested collateral required under the new BT and BA letter of credit facilities; partially offset by lower interest expense on long-term debt, after the effect of hedges, consistent with lower variable interest rates and positive variations in fair value of financial instruments . The effective income tax rate was 24% and 23 . 1% respectively for the three- and nine-month periods ended October 31, 2009, compared to the statutory income tax rate of 31 . 3% . The lower effective tax rates are mainly due to the positive impact of the recognition of tax benefits related to operating losses and temporary differences . As a result, net income amounted to %24;168 million, or %24;0 . 09 per share, for the third quarter of fiscal year 2010, compared to %24;226 million, or %24;0 . 12 per share, for the same period the previous year . For the nine-month period ended October 31, 2009, net income was %24;528 million, or %24;0 . 29 per share, compared to %24;714 million, or %24;0 . 39 per share, for the same period the previous year . For the three-month period ended October 31, 2009, free cash flow totalled %24;72 million, compared to a free cash flow usage of %24;226 million for the corresponding period the previous year . For the nine-month period ended October 31, 2009, free cash flow usage totalled %24;727 million, compared to free cash flow of %24;433 million for the corresponding period the previous year . As at October 31, 2009, Bombardier s order backlog stood at %24;47 . 4 billion, compared to %24;48 . 2 billion as at January 31, 2009 . Bombardier Aerospace- Revenues of %24;2 . 1 billion- EBITDA of %24;197 million, or 9 . 5% of revenues- EBIT of %24;103 million, or 5% of revenues- Free cash flow of %24;61 million- Net orders of seven aircraft- Order backlog of %24;18 . 1 billionBombardier Aerospace s revenues amounted to %24;2 . 1 billion for the three-month period ended October 31, 2009, compared to %24;2 . 3 billion for the same period the previous year . The decrease is mainly due to a decrease in manufacturing revenues reflecting lower deliveries and selling prices for business aircraft, partially offset by a higher percentage of wide-body aircraft deliveries; partially offset by higher revenues for commercial aircraft mainly due to higher deliveries . For the third quarter ended October 31, 2009, EBIT totalled %24;103 million, or 5% of revenues, compared to %24;176 million, or 7 . 7% of revenues, for the same period the previous year . The 2 . 7 percentage-point decrease is mainly due to lower selling prices for business aircraft, higher cost of sales per unit, mainly due to price escalations of materials, the mix between business and commercial aircraft deliveries, lower margins for services activities, a provision for the write-down of inventories mainly due to lower market values for pre-owned aircraft, and the net negative impact in other expense (income) from the revaluation at the balance sheet date of certain balance sheet accounts in foreign currencies; partially offset by liquidated damages from customers, mainly as a result of business aircraft order cancellations, a net positive variance on certain financial instruments carried at fair value, lower selling, general and administrative expenses, mainly due to lower business aircraft deliveries, and lower amortization expense due to the aerospace program tooling on some aircraft models being fully amortized . Free cash flow amounted to %24;61 million for the third quarter ended October 31, 2009, compared to %24;9 million for the same period last fiscal year . The free cash flow increase is mainly due to a positive period-over-period variation in net change in non-cash balances related to operations; partially offset by lower profitability, and higher net additions to property, plant and equipment and intangible assets . For the quarter ended October 31, 2009, Bombardier Aerospace delivered 61 aircraft, compared to 80 for the same period the previous year . The 61 deliveries consisted of 33 business, 27 commercial,

Performance03/12/2009 8:00 (MEZ)

SIX Svizzera
Corso di borsa	CHF 74,35
Valore intrinseco (NAV)	CHF 93,80
Premio/(-sconto)	-20,74 %
TecDax Germania
Corso di borsa	EUR 50,00
Valore intrinseco (NAV)	EUR 62,25
Premio/(-sconto)	-19,68 %
All Star Italia
Corso di borsa	EUR 50,00
Valore intrinseco (NAV)	EUR 62,25
Premio/(-sconto)	-19,68 %

Andamento del titolo (SIX), dividendo rettificato
	Share price	Net Asset Value (NAV)
Andamento della quotazione di borsa per l esercizio in corso (dal 1° gennaio 2008)	+11,4 %	+3,9 %
Performance della quotazione di borsa dalla fondazione (nov . 1993)	+264,9 %	+350,5 %
Performance annualizzata della quotazione di borsa dalla fondazione	+8,4 %	+9,8 %
Outperformance (NAV) rispetto al Nasdaq Biotechnology Index dalla fondazione		+267,1 %
Dividendo 2008		CHF 1 . 80

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