ABB announces proposed U.S. offering

Zurich, Switzerland, March 20, 2001 – ABB Ltd today announced that it intends to make an offering of six million shares to U.S. investors. ABB will make the offering from available treasury shares and expects to complete the offering in early April 2001. ABB will offer the shares in the form of American Depositary Shares or registered shares. Four American Depositary Shares will initially represent one registered share. If ABB’s previously announced share split becomes effective, however, each American Depositary Share will thereafter represent one registered share.

The purposes of the offering, together with ABB’s proposed listing on the New York Stock Exchange, are to enhance ABB’s presence in the U.S. financial markets and to create a U.S. exchange-traded equity security that can be used, if appropriate, in connection with equity incentive plans or for strategic investments or acquisition transactions in the United States. There is no assurance that ABB will implement any such plan or consummate any such transaction. ABB intends to use the proceeds of the offering for general corporate purposes.

ABB has applied to list the American Depositary Shares on The New York Stock Exchange under the symbol “ABB”.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.

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