ABB appoints new head of Human Resources

Zurich, Switzerland, October 1, 2002 - ABB, the leading power and automation technology group, announced today it has appointed Gary Steel, currently Human Resources Director, Group Finance, of Shell International as executive vice president and head of Group Human Resources. He will be a member of the ABB Group executive committee.

Steel, aged 49, is Scottish and comes to ABB after a 25-year career at Shell, where he has held a series of senior positions in personnel relations. In addition to his role as Human Resources Director in Group Finances, for the past three years Steel has been Director of Group Leadership and Performance, a unit responsible for global leadership development in Royal Dutch/Shell.

"Gary Steel brings considerable experience in the key task of developing leaders in a major global group," said Jürgen Dormann, chairman and CEO." By making him a member of the Group executive committee, we reflect the growing importance we attach to both human resources management in general and the development of the next generation of leaders in ABB."

Steel takes up his new position on January 1, 2003, replacing Arne Olsson, Senior Vice President and head of Human Resources since ABB was formed in 1988. Olsson, 58, who will assume other responsibilities in Group management, is due to retire next year after 36 years with ABB and Asea.

"On behalf of both the Board and the Executive Committee, I would like to pay tribute to Arne Olsson’s tremendous work and commitment. He can look back at a proud record," said Dormann.

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 more than 100 countries and employs about 150,000 people.

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