Bondholder meeting

ABB Ltd
21 April 2004





ABB calls bondholder meeting to modify $968 million convertible bond



Zurich, Switzerland, April 21, 2004 - ABB said today it is calling a bondholder
meeting next month to amend the terms and conditions of the $968 million
convertible bond, issued by ABB International Finance Limited, which is due in
2007.



The proposed amendments would modify the conversion rights contained in the
bonds so that upon conversion bondholders would receive dollar-denominated
American Depositary Shares ('ADS') instead of Swiss franc-denominated ordinary
shares. Each ADS represents one ordinary share of ABB Ltd.



'The modifications will greatly simplify the accounting treatment of this bond
and remove related volatility from our financial statements,' said Peter Voser,
ABB's chief financial officer. 'Removing the volatility factor provides for
increased transparency.'



'The changes should leave bondholders in substantially the same position as they
are in today.  Moreover, there will be additional benefits available to them.',
Voser added.



ABB Ltd has listed its shares on the New York Stock Exchange (in the form of
ADS) since April 6, 2001.



A notice of meeting was published today in the Luxemburger Wort inviting
bondholders to approve the changes at a meeting in London on May 13, 2004.



An explanatory memorandum providing background information on the proposals and
a voting instruction form are available on the Internet at  www.ABBbondvote.com.
Barclays Capital, Citigroup Global Markets Limited and Credit Suisse First
Boston (Europe) Limited are advising ABB Ltd.  The bonds have the following
identifiers: ISIN Code: XS0147497217 Common Code: 014749721.



ABB (www.abb.com) is a leader in power and automation technologies that enable
utility and industry customers to improve performance while lowering their
environmental impact.  The ABB Group of companies operates in around 100
countries and employs about 115,000 people.


THE INFORMATION CONTAINED HEREIN SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THE SECURITIES
REFERRED TO HEREIN, IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR
SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION, EXEMPTION FROM REGISTRATION OR
QUALIFICATION UNDER THE SECURITIES LAWS OF ANY JURISDICTION.



THE MATERIAL SET FORTH HEREIN IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT
INTENDED, AND SHOULD NOT BE CONSTRUED, AS AN OFFER TO SELL, OR AS A SOLICITATION
OF AN OFFER TO PURCHASE, ANY SECURITIES IN THE UNITED STATES OR IN ANY OTHER
JURISDICTION. THE SECURITIES DESCRIBED HEREIN HAVE NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR THE LAWS OF ANY
STATE. SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, EXCEPT
PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE LAWS.




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