ABB Wins Nuclear Fuel, Service and Retrofit Contracts Valued At More Than US$ 100 Million.

ZURICH, Switzerland--(BUSINESS WIRE)--Sept. 21, 1999--

ABB, the globalized technology and engineering company, has been awarded nuclear service, retrofit and fuel contracts with a total value of more than US$ 100 million from utilities in the U.S. and Germany.

The U.S. orders, with a combined value of more than US$ 85 million, were placed by the Tennessee Valley Authority (TVA) to service and retrofit three of their nuclear power plants. One of the contracts covers the supply of steam generator inspection, repair and engineering services for three units at TVA's Sequoyah 1 and 2 and Watts Bar plants through 2003. The Sequoyah and Watts Bar plants are located in Soddy-Daisy and Spring City, Tennessee, respectively, and began operation in the early and mid-1980s.

The second U.S. order is to replace four steam generators at the Sequoyah 1 plant. It includes project management, design and manufacturing of the replacement steam generators. The generators will be fabricated under license by Korea Heavy Industry and Construction Co. Ltd. (HANJUNG). Delivery is scheduled for October, 2002.

In Germany, ABB has entered into a long-term agreement with Bayernwerk AG, Isar-Amperwerke AG, and Bayernwerk Kernenergie GmbH to deliver three uranium fuel reloads to the Isar 1 nuclear power plant, located about 60 kilometers (37 miles) northeast of Munich. The deliveries are scheduled to take place between 2001 and 2007 and have a value of about US$ 20 million.

ABB's nuclear activities include new nuclear power plants, systems, components, field services, retrofits, fuel, fuel services, waste management and decommissioning. Along with the service- and financing-based distributed power business, and the renewable energy activities, ABB's nuclear energy business was not included in the recently-formed power generation joint venture ABB ALSTOM POWER.

ABB (http://www.abb.com) serves customers in power transmission and distribution; automation; oil, gas, and petrochemicals; industrial products and contracting; and in financial services. Power generation customers are served by the joint venture ABB ALSTOM POWER. The ABB Group employs about 175,000 people in more than 100 countries. (End)