Statement re Credit Facility

ABB Ltd
26 April 2002


ABB signs amended US$ 3 billion credit facility

Agreement with 20 banks further strengthens financial flexibility

Zurich, Switzerland, April 26, 2002 - ABB, the global power and automation
technology group, said today it has signed an amended US$ 3 billion committed
credit facility with 20 banks - a further step in strengthening the company's
financial flexibility.

'We are delighted that so many of our relationship banks have recommitted to
ABB,' said Peter Voser, chief financial officer. 'This facility gives us
committed financing and improved flexibility.'

'The new facility is priced according to a credit rating table,' added Voser.
'We will pay LIBOR plus 125 basis points at our current rating level.'

The credit facility, originally signed in December 2001, was amended to remove a
credit rating trigger. Instead, the new facility includes market-based standard
financial covenants.

In line with ABB's target of reducing net debt and extending the maturity
profile of total debt, it will repay the facility by year-end, using operational
cash flow, planned capital market issues and proceeds from asset disposals. ABB
announced earlier this month that it planned to issue about US$ 2 billion in
convertible and straight bonds in the second quarter of 2002.

An investor roadshow for ABB's straight bond issue will start on April 30, with
planned launch and pricing in mid-May. ABB has mandated Barclays, Citigroup and
Credit Suisse First Boston as joint lead managers and bookrunners for the
straight bond issue.

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.s




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