PARIS -- Alcatel shareholders today voted to modify the company's by-laws to allow the issuance of Alcatel Optronics Tracking Stock (which will be denominated as "Class O shares") within the overall capital structure of the company. Upon the distribution of Class O shares, pre-existing Alcatel shares will be re-denominated as "Class A shares."

By introducing a stock which will "track" the financial performance of the Alcatel Optronics Division in the form of Class O shares, Alcatel believes it will enhance market recognition of the Optronics Division's value. The tracking stock will also increase Alcatel's ability to respond to strategic opportunities in the optical components industry, while maintaining control over the Division, which is a strategic business.

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