Acquisition

ABB LIMITED
30 August 1999

ABB adds to financial services portfolio, acquires European reinsurer

Zurich, Switzerland, August 30, 1999 - ABB, the global technology and
engineering group, said today it has agreed to acquire, through its Sirius
International Insurance Corp., the Belgium-based Kemper Europe Reassurances S.A.
from GF. Reinsurance Corporation.  The purchase price was not disclosed.

The acquisition of Kemper Belgium, which offeres reinsurance services primarily
to European customers, allows Sirius to expand beyond its base in the Nordic
countries.  Sirius is part of ABB's Financial Services segment.

ABB  is a globalized technology and engineering company
serving customers in power transmission and distribution; automation; oil, gas,
and petrochemicals; industrial products and contracting; and in financial
services.  Power generation customers are served by the joint venture ABB ALSTOM
POWER.  The ABB Group employs about 175,000 people in more than 100 countries.