Re Agreement

ABB Ltd
04 June 2003

ABB to sell stake in SEK to the Swedish state

Zurich, Switzerland, June 4, 2003 - ABB, the leading power and automation
technology group, today announced that it has agreed to sell its entire 35
percent shareholding in Swedish Export Credit Corporation (SEK) to the Swedish
state for a total cash consideration of 1240 million Swedish Kronor (about US$
160 million).

ABB said the divestment is part of its strategy to focus on its core power and
automation technology businesses and to strengthen its balance sheet.  The cash
consideration will be paid in dividends from SEK and will be used to reduce
ABB's debt.

The transaction is planned to be completed by the end of June 2003, and is
subject to funding by SEK in the capital markets and approval by Sweden's
parliament. Once finalized, the Swedish state will own all of the shares in SEK.

'We are pleased to have found this solution with the Swedish state providing SEK
with a clear and strong ownership foundation to continue its successful
business,' said Peter Voser, ABB's chief financial officer.

The equity stake  in SEK was part of  ABB's Structured Finance, most of which
has been divested through a series of transactions since 2002.

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 around 100
countries and employs about 135,000 people.


                      This information is provided by RNS
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