AGM Statement

ABB Ltd
16 May 2003

ABB shareholders approve amendments to articles of incorporation

Annual general meeting elects two new board members

Zurich, Switzerland, May 16, 2003 - At the group's annual general meeting today,
ABB shareholders approved amendments of its articles of incorporation providing
for authorized share capital and an extension in contingent share capital.

The amendments include the creation of CHF 250 million in authorized share
capital, replacing CHF 100 million that expired in June 2001. This entitles
ABB's board of directors to issue up to 100 million new ABB shares, of which
some 30 million are reserved for use with the pre-packaged plan of
reorganization of ABB's U.S. subsidiary, Combustion Engineering Inc.

The amendments also include an increase of contingent capital from CHF 200
million to CHF 750 million, allowing the issue of up to a further 300 million
new ABB shares.

Shareholders also elected two new board members, Louis R. Hughes and Michael
Treschow. Re-elected to the board of directors were Jurgen Dormann, ABB chairman
and CEO, Roger Agnelli, Hans Ulrich Marki, Michel de Rosen, Bernd W. Voss and
Jacob Wallenberg.

A total of 1193 shareholders attended the annual general meeting, representing
41.9 percent of the total share capital entitled to vote.

ABB (www.abb.com) is a leader in power and automation technologies that enable
utility and industry customers to improve performance while lowering
environmental impact. The ABB Group of companies operates in around 100
countries and employs about 135,000 people.







Investor Relations:

Switzerland: Tel. [phone]

Sweden: Tel. [phone]

USA: Tel. + 1 203 750 7743

[e-mail]


Media Relations:

ABB Corporate Communications, Zurich
Thomas Schmidt

Tel:  [phone]

Fax: [phone]

[e-mail]






   Investor Relations:

   Switzerland: Tel. [phone]

   Sweden: Tel. [phone]

 Media Relations:   USA: Tel. + 1 203 750 7743

 ABB Corporate Communications,                                                                    
[e-mail]
 Zurich
 Thomas Schmidt

 Tel:  [phone]

 Fax: [phone]

 [e-mail]


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