ABB unit awarded contracts worth about $200 million for Korean nuclear power plants.

NORWALK, Conn.--(BUSINESS WIRE)--Nov. 25, 1996--ABB Inc. announced today that one of its units has signed contracts worth approximately $200 million for work on Ulchin Units 5 and 6 (UCN 5 & 6) to be built for Korea Electric Power Corporation (KEPCO) in Kyongbuk province on the east coast of Korea.

Under the terms of the contracts, ABB Combustion Engineering Nuclear Systems will provide engineering design and components for two 1,000 MWe light water nuclear steam supply systems based on an advanced version of its proven System 80(R) design. ABB said these awards demonstrate the success of Korea's standardization program for nuclear plants and the success of mutual cooperation in the transfer of technology. Additional updates to enhance plant safety and to maintain updated equipment have been carefully considered and incorporated into the standard design for UCN 5&6. The plants are scheduled to go into operation in February 2003 and 2004, respectively.

UCN 5 & 6 will join six other plants of similar design being built or in operation in the Republic of Korea. Yonggwang Units 3 & 4 (YGN 3&4) began commercial operation in March 1995 and January 1996, respectively. That project formed the basis for the Korean Standard Design. Two additional units are also under construction at both the YGN and UCN sites.

ABB Combustion Engineering Nuclear Systems, of Windsor, Conn., is a subsidiary of ABB Inc. ABB (Asea Brown Boveri) Inc. (http://www.abb.com/americas/usa), with headquarters in Norwalk, Conn., engineers products and services for power generation, transmission and distribution; industrial processes; and transportation. The company and its affiliates have annual U.S. revenues of approximately $5.2 billion. Their parent, ABB Asea Brown Boveri Ltd. (NASDAQ:ABBBY and OTC:ABBGY), employs approximately 217,000 people and had revenues in 1995 of $34 billion.

CONTACT: ABB Inc., Norwalk

Karen Armour, 203/750-2217