Norwegian Oil & Gas Service Company Acquired

ABB Ltd
27 June 2000


ABB Acquires Norwegian oil and gas service company

Zurich, Switzerland, June 27, 2000 - Global technology group ABB said today it
has agreed to buy the oil and gas activities - as well as the installation
business - of Umoe ASA, a leading Norwegian service company in the oil and gas
industry.

ABB did not disclose the value of the acquisition, which is subject to customary
approvals.  In the full year 2001, the acquired businesses, which employ some
2,400 people, are expected to contribute US$300 million in revenues, with
continued positive earnings.

Umoe's oil and gas business, headquartered in Haugesund, has a long track record
in the Norwegian offshore market with a strong focus on modification and
maintenance (M&M) services, including electrical installations.   ABB intends to
use its global scope to expand Umoe's activities to the worldwide oil and gas
market, while supporting further growth of ABB's share of the Norwegian offshore
oil and gas service market.

'This acquisition is a step forward in our strategy to expand ABB's service
activities and to grow in the oil and gas market,' said ABB President and CEO
Goran Lindahl.  'It builds on our existing oil and gas service activities in the
important Norwegian market while opening new market opportunities on the global
market.  And it strengthens our ability to undertake turnkey projects for
process plants, topside and floating production systems.'

Included in the acquisition are Umoe Oil and Gas, Umoe Technology Services and
Umoe Electro.  The acquisition does not include Umoe Schat-Harding AS, Umoe
Karmsund AS or any of the other companies in the Ulltveit-Moe Group.  ABB will
not acquire any Umoe real estate, but lease facilities as required.

The ABB Group 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 165,000 people
in more than 100 countries.