Re Contract

ABB Ltd
04 July 2003

ABB sells Building Systems business in Nordic region for US$ 233 million

Divestment strategy on track as company focuses on core technologies

Zurich, Switzerland, July 4th, 2003 - ABB, the leading power and automation
technology group, said today it has agreed to sell its Building Systems business
in Sweden, Norway, Denmark, Finland (including Russia and the Baltics) to YIT
Corporation of Helsinki, Finland, for about US$ 233 million (Euro 203 million).

Final cash proceeds received at closing date will be adjusted for net working
capital and are expected to be around US$ 170 million. The sale is subject to
customary competition authority approvals.

'This sale is another step towards reaching our divestment targets for 2003, and
gives these businesses a better opportunity to grow,' said Peter Voser, ABB's
chief financial officer.

Proceeds from the sale will be used to further reduce ABB's debt and strengthen
its balance sheet.

ABB Building Systems in the Nordic region employs about 9,000 people in more
than 100 locations. The business reported revenues of about US$ 1.1 billion in
2002.

Building Systems Nordic region is part of the Building Systems business area
reported separately in the Group Annual Report 2002 under the heading non-core
activities.

ABB (www.abb.com) is a leader in power and automation technologies that enable
utility and industry customers to improve performance while lowering
environmental impacts. The ABB Group of companies operates in around 100
countries and employs about 135,000 people.


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