ABB shareholders re-elect board of directors

Zurich, Switzerland, May 18, 2004 – At the group’s annual general meeting today, ABB shareholders approved the re-election of the board of directors for a further one -year term of office.

Shareholders overwhelmingly voted in favor of re -appointing the board, which comprises eight members from six countries. The board said before the annual general meeting that, if re-elected, it would re-appoint Jürgen Dormann as chairman, and Jacob Wallenberg as lead director.

At the meeting, Dormann confirmed ABB’s business outlook for 2004 and the previously communicated targets for 2005.

The shareholders also overwhelmingly approved the other items on the agenda, including the annual report, the consolidated financial statements and the annual financial statements for 2003.

A total of 1,087 shareholders attended the annual general meeting, representing 49 percent of the total share capital entitled to vote.

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 113,000 people.

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