Re Agreement

ABB Ltd
2 April 2002


ABB obtains full bank commitment for US$ 3 billion credit facility

Barclays, Citigroup, and Credit Suisse First Boston are joint lead underwriters

Zurich, Switzerland, April 2, 2002 - ABB, the global power and automation
technology group, said today that it has obtained commitments from Barclays,
Citigroup and Credit Suisse First Boston to fully underwrite its US$ 3 billion
credit facility, which is in the process of being amended. This will increase
the company's financial flexibility and replace the existing credit rating
trigger with standard market terms and conditions.

'This agreement gives us a strong base from which we can invite our relationship
banks to participate in an amended facility,' said Peter Voser, ABB's chief
financial officer. 'This should finally put to rest any concerns about ABB's
liquidity.'

Voser also stated that ABB intends to access the capital markets to raise about
US$ 2 billion through a combination of straight and convertible bonds in order
to extend the maturity of its debt and diversify its sources of finance. Terms
and conditions will be announced closer to the launch date within the second
quarter of 2002.

As part of its announced portfolio change program, ABB confirmed that it is in
advanced negotiations with a number of parties to sell its Structured Finance
business, part of the Financial Services division. Completion is expected in the
third quarter.

Voser added: 'With these steps, ABB is on track with its financing policy. We
have eliminated our dependence on volatile short-term capital markets; we are
extending the maturity profile of our debt; and we will repay at least US$ 1.5
billion in net debt by the end of this year.'

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 155,000 employees in more than 100 countries.


For more information please contact:

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ABB Corporate Communications, Zurich     Switzerland: Tel. [phone]
Thomas Schmidt                           Sweden: Tel. [phone]
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