ABB - Sale of Lummus Global

ABB Ltd
19 November 2007


ABB completes sale of Lummus Global


Zurich, Switzerland, November 19, 2007 - ABB, the leading power and automation
technology group, has completed the sale of its downstream oil and gas business
Lummus Global to Chicago Bridge & Iron Co. (CB&I) for an enterprise value of
$950 million.

ABB and CB&I announced the transaction in August. ABB has received net cash
proceeds of approximately $800 million, which will be booked in the fourth
quarter.

As previously communicated, the sale triggered an accelerated $204 million
payment by ABB to the CE Asbestos PI Trust, a trust fund set up to cover the
asbestos liabilities of Combustion Engineering. This payment will be also booked
in the fourth quarter.

As reported in August, ABB retains liability for potential fines and penalties
arising from suspect payments discovered in connection with the divestment of
this business. ABB will continue cooperating with the authorities in this
matter.

In recent years, the ABB Group has been successfully focussing on its strengths
in power and automation technologies. ABB's automation and power businesses
remain committed to the oil and gas sector and will continue to develop their
long-standing relationships with these customers.


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 more than 110,000 people.



For more information please contact: 

Media Relations:
ABB Corporate Communications, Zurich
Wolfram Eberhardt, Thomas Schmidt
Tel:  [phone]
Fax: [phone]
[e-mail]






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