Statement re bond repurchase

ABB Ltd
29 July 2004




NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OR THE
REPUBLIC OF ITALY


ABB to repurchase 2005 and 2006 Euro bonds


Zurich, Switzerland, July 29, 2004 - ABB, the leading power and automation
technology group, today announced tender offers to repurchase all outstanding
Euro 300 million 5.375 percent bonds due 2005 and Euro 475 million 5.125 percent
bonds due 2006 issued by ABB International Finance Limited. The tender period
commenced today and ends on August 20, 2004.



ABB said that the transaction, which will reduce its total debt outstanding, was
in line with its plan to further strengthen its financial position and achieve
an investment grade rating.



Peter Voser, ABB chief financial officer, said: 'This deal represents the
continuation of ABB's stated strategy to cut gross debt to $4 billion by the end
of 2005.'



In conjunction with the tender offers, ABB has convened bondholders' meetings on
August 25 in order to vote on extraordinary resolutions. If passed, each
resolution will allow ABB to redeem those bonds that have not been tendered
under the relevant tender offer.



Mandated dealer managers for the transaction are Barclays Capital, Commerzbank
Securities and Dresdner Kleinwort Wasserstein.



Additional information on the tender offer and the bondholders' meetings can be
obtained on the Internet via www.ABBbondtender.com, the notice published today
in the Luxemburger Wort, or by contacting ABB or the dealer managers.



ABB (www.abb.com) is a leader in power and automation technologies that enable
utility and industry customers to improve performance while lowering
environmental impact. The ABB Group of companies operates in around 100
countries and employs about 105,000 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 tender offers are not being made to, and tenders will not be accepted from
or on behalf of, holders of the bonds in any jurisdiction in which the making or
tender thereof will not be in compliance with the laws of such jurisdiction.  In
addition, the tender offers are not being made, directly or indirectly, in or
into, or by use of the mails, or by any means or instrumentality (including,
without limitation, facsimile transmission, telex, telephone, internet, email
and other forms of electronic transmission) of interstate or foreign commerce,
or of any facility of a national securities exchange, of the United States and
bonds may not be tendered by any such use, means, instrumentality or facility
from or within the United States.  Accordingly, copies of this PRESS RELEASE are
not being, and must not be, mailed or otherwise forwarded, distributed or sent
in or into or from the United States and persons receiving this press release
(including custodians, nominees and trustees) must not mail or otherwise
forward, distribute or send it into or from the United States.  Doing so may
render invalid any purported acceptance.



The Tender Offers are not being made and will not be made, directly or
indirectly, in the Republic of Italy and neither the Tender Offers nor any of
the information contained herein are addressed or constitute an offer or an
invitation to offer to purchase or acquire the bonds directed, to any person
(natural or legal) in, or resident of, the Republic of Italy.  No prospectus or
offer document will be lodged with, or registered by, the Commissione Nazionale
per Le Societa e la Borsa (CONSOB) in respect of the Tender Offers.
Accordingly, the bonds may not be tendered or sold in the Republic of Italy and
neither this press release nor any other material relating to the Tender Offers
may be distributed or made available in the Republic of Italy.




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