European Commission investigates pricing activities in gas insulated switchgear business

ABB premises not among those being investigated

Zurich, Switzerland, May 13, 2004 - ABB said today the European Commission has launched an investigation into suspected anti-competitive practices of companies active in the high-voltage gas insulated switchgear (GIS) business.

ABB said the European Commission’s Directorate-General for Competition was carrying out investigations at premises of companies involved in the GIS business. ABB said it was cooperating fully with the investigation, and added that none of its premises were being inspected.

The company said that during an internal compliance audit, it was discovered that certain ABB employees – together with employees of other companies active in the GIS business – were involved in anti-competitive practices. ABB contacted the authorities to expose these practices and is now supporting authorities to help restore effective competition.

ABB is committed to fair and open competition in markets around the world, and ABB companies and employees are not permitted under any circumstances to engage in any anticompetitive practices.

ABB enforces zero tolerance of illegal or unethical behavior, and the company said measures are taken against any employees involved in anti-competitive practices.

"The company’s customers, employees and other stakeholders have the right to expect that ABB and its employees uphold and respect the highest standards of business ethics," said Jürgen Dormann, ABB’s chairman and chief executive officer.

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering their environmental impact. The ABB Group of companies operates in around 100 countries and employs about 113,000 people.

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