PARIS -- Alcatel announces the public offering of 16,500,000 shares of Alcatel Optronics tracking stock. The preliminary offer price of Alcatel Optronics tracking stock is between 85 and 100 euro. Alcatel may revise the price range at any time until the last day of the offering. Based on the preliminary price range, the size of the offering would be 1.4 billion euro to 1.7 billion euro (1.6 billion euro to 1.9 billion euro after the over-allotment, or greenshoe, option), valuing Alcatel Optronics between 8.1 billion euro and 9.5 billion euro.

The tracking shares to be issued will represent a 17.4% interest in the financial performance of Alcatel Optronics (20% after the greenshoe option). The subscription period will last until October 19, 2000, noon, Paris time. Alcatel is planning to reserve up to 12% of the total offering for its current shareholders.

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