Investment in another Company

ABB Ltd
12 September 2000


ABB investing US$100 million in China's Sinopec Corp. IPO 

Highlights commitment to world's second-largest economy 

Zurich, Switzerland, September 12 - ABB, the global technology company, said
today it has agreed to invest US$ 100 million in Sinopec Corp., Asia's largest
refiner, through an Initial Public Offering (IPO). ABB will be a Strategic
Investor in Sinopec Corp.'s IPO, joining several other multinational
corporations.

Sinopec Corp. processes 50 percent of China's domestic crude oil throughput, has
the largest product sales and distribution network in China, and is the largest
chemicals producer in China with approximately 47 percent of the domestic
ethylene capacity in 1999. 

ABB, through its ABB Lummus Global unit, has supplied technology for 62 percent
of China's overall ethylene capacity. ABB's relationship with Sinopec dates back
to the early 1970s. This relationship has recently intensified through a broad
cooperation to develop and market new ethylene technology for application in
China and for the international market. This cooperation has already resulted in
the sale of jointly-developed cracking heaters - that breakdown petrochemical
feedstock into smaller molecules used in a broad range of plastics and other
products - which will produce some one million tons of new ethylene capacity in
China.

It is expected that Sinopec Corp. will invest more than US$ 5 billion in areas
related to ABB's business capabilities over the next three years.

Sinopec Corp. Chairman Li Yizhong said, 'We welcome the investment and
partnership with ABB. Their range of technologies and services in oil, gas and
petrochemicals, automation, power transmission and distribution will continue to
be of great value to Sinopec Corp.' Chairman Li added that, 'We believe the
cooperation between Sinopec Corp. and ABB will be further strengthened after ABB
becomes a Strategic Investor in Sinopec Corp.'s IPO.'

Goran Lindahl, President and CEO of ABB, said, 'ABB has for a long time been
committed to China. We have some 5,000 people working in the country and more
than 20 joint ventures up and running. This investment in Sinopec Corp. matches
our global strategy to expand in both regions and technologies where we see good
growth potential.'

Sinopec is an integrated petroleum and petrochemical company with upstream,
midstream and downstream operations and, based on total operating revenues from
its continuing operations of RMB 213.0 billion (US$ 25.7 billion) in 1999,
Sinopec is the largest petroleum and petrochemical company in China and one of
the largest in Asia.

The ABB Group (www.abb.com) serves customers in power transmission and
distribution; automation; oil, gas, and petrochemicals; building technologies;
and in financial services. With novel IT applications, tailored software
solutions, growing eBusiness and a fast-expanding knowledge and service base,
ABB is building links to the new economy. The ABB Group employs about 160,000
people in more than 100 countries. 


This release is not an offer of securities in the United States; securities may
not be offered or sold in the United States absent registration under the
Securities Act or an exemption therefrom. Any public offer of securities to be
made in the United States will be made by means of a prospectus, which may be
obtained from the Issuer. The prospectus will contain detailed information
regarding the company and management, as well as financial statements. The
Issuer intends to register a portion of its proposed offering in the United
States. Neither this document nor anything contained herein shall form the basis
of any contract or commitment whatsoever.