Launch of New Company

ABB Ltd
27 March 2000


Investor AB, Stockholm                       ABB, Zurich
Nils Ingvar Lundin, Corporate Relations      John Fox, Corporate Communications
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Per Spangberg, Investor Relations            Manfred Ebling, Investor Relations
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ABB, INVESTOR AND PARTNERS LAUNCH NEW VENTURE GROUP TO BOOST EUROPEAN
BUSINESS-TO-BUSINESS eCOMMERCE

Zurich/Stockholm, March 27, 2000 -- ABB Ltd and Investor AB today announced the
launch of b-business partners, a new European-based company with a capital base
of more than Euro 1 billion.  b-business partners will invest in and develop
business-to-business eCommerce (e-B2B) companies across Europe, and aims to
forge closer links between 'new economy' and traditional enterprises.

The global technology group ABB and Investor, Sweden's largest holding company,
will each contribute Euro 300 million of  b-business partners initial capital.
SEB, a European leader in Internet banking, will contribute Euro 50 million.
Additional partners include AstraZeneca, Atlas Copco, Electrolux, Saab
(aerospace), Sandvik, StoraEnso and WM-data, leaders in pharmaceuticals,
aerospace, consumer products, industrial products and services, forest products
and IT services. b-business partners becomes one of the biggest e-B2B investment
companies in Europe.

b-business partners aims at fostering new leaders in Europe's fast-expanding
e-B2B market, which is projected to grow to more than Euro 180 billion by 2002.
b-business partners will cultivate the companies in its portfolio, providing
support for sourcing and distribution, sharing technologies and business models,
and acting as hands-on advisor.  The partners intend to float b-business
partners in an initial offering within the next three years.

Investor's competitive advantage in the e-B2B market sector is its ability to
leverage its network of well-established enterprises.  This unique partnership,
with its focus on investing in innovative e-B2B companies, allows Investor to
continue to build upon its existing venture capital and private equity
initiatives in Europe, the United States and Asia.

'The launch of b-business partners reaffirms the commitment Investor has made to
invest in companies that are ready to rise to the challenge and reap the
benefits of this new economy,' said Marcus Wallenberg, CEO of Investor AB. 'This
is the first time large industrial and service corporations have created an
investment base exclusively for B2B start-ups in Europe.  This exciting new
venture will also serve as a catalyst and growth engine for young technology
companies in our portfolio and for our partners.'

For ABB, participation in b-business partners is part of its strategy to become
a leader in the new economy. ABB already has key IT-driven activities - such as
industrial IT solutions for automation and process control systems, the ABB
eBusiness Web site, ABB's IT offerings for intelligent buildings and its new
business to build broadband networks in Europe together with business partners
in the utilities sector.

'At ABB, we are embracing the new economy with its greater emphasis on IT,
knowledge and service,' said ABB President and CEO Goran Lindahl.  'Across the
whole spectrum of our businesses, from power transmission to financial services,
we add intelligence through IT as the route to success.  The launch of
b-business partners underlines our determination to explore the great
opportunities offered by combining the entrepreneurial spirit and new skills of
the B2B eCommerce world with the business skills of the industrial sphere.'

The member companies in b-business partners gain both from their financial
return on investment as well as from collaboration on new Internet business
applications. They aim to build broader business relationships, as customers or
suppliers, to the e-B2B companies selected for venture capital support.  In
addition, b-business partners will finance new start-ups for development
together with the partner companies, including e-B2B initiatives within partner
companies that are candidates for public listings.

b-business partners, which will be incorporated in the Netherlands, will begin
operations immediately.

ABB (www.abb.com) is a global technology company serving customers in power
transmission and distribution; automation; oil, gas, and petrochemicals;
building technologies, and in financial services.  Power generation customers
are served by ABB ALSTOM POWER. The ABB Group employs about 165,000 people in
more than 100 countries.

Investor AB (www.investor.se) is the largest Swedish holding company.  It
generates value for the shareholders through long-term active ownership, active
investment operations and trading. Over the past 20 years, the average total
annual return to the shareholders has exceeded 20 percent.