Re Contract

ABB Ltd
3 May 2002

            ABB signs US$ 330 million Statoil contract

Maintenance and modification for plant and North Sea oil and gas platforms


Zurich, Switzerland, May 3, 2002 - ABB, the global power and automation
technology group, has signed a US$ 330 million contract with Statoil of Norway
for maintenance and modification of six offshore oil and gas platforms in the
North Sea, as well as the onshore Kollsnes processing plant.

'Most of the maintenance and modification work on the Norwegian continental
shelf is regulated through long-term agreements like these,' says Gorm
Gundersen, ABB executive vice president and head of the Oil, Gas and
Petrochemicals division. 'Our considerable experience in the industry and the
value we have delivered customers in the past were key factors in shoring up
this contract.'

The five-year platform contract is for Troll A, four Sleipner platforms and
Veslefrikk. The terms also include Huldra and Kvitebjorn platforms in the
initial stages of the agreement.

The contract has options for three two-year extensions and covers project
management, engineering, procurement, fabrication and installation work.
Implementation starts immediately, and is expected to be in full operation from
the third quarter of 2002.

For the past seven years, ABB has held the maintenance and modification contract
for the Troll and Sleipner offshore fields, as well as the Kollsnes plant on
Norway's west coast.

ABB (www.abb.com) is a global leader in power and automation technologies that
enable utility and industry customers to improve performance while lowering
environmental impact. ABB has 152,000 employees in more than 100 countries.


                      This information is provided by RNS
            The company news service from the London Stock Exchange