ABB

Financial Advisory

February 2003

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FinancialAdvisory Profile

� Global Advisory Unit set-up as service center

� Reporting directly to ABB Group CFO

� A team of 40 professional advisors

� Located in 9 major ABB countries

Enrico VialeFinancial Advisory

P. Voser / CFO

Sweden Switzerland USA BrazilItalyGermany FranceFinland Asia

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FinancialAdvisory

Core Strength

� Global team of professionals with solid expertise on bothfinancing products and ABB industrial activities

� Focus on optimizing ABB customers’ financial interest

� Unique access to key Export Credit Agencies & Financial Institutions worldwide

Success Built on Core Strength

e r g

World Bank Nordic Investment BankInternational Finance Corp. Overseas PrivateInvestment Corp.

European Bank for Reconstruction

and Development

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FinancialAdvisory Provider of Value-adding Services

Value-adding Services

� Arrange single and multi-sourced export credit

� Arrange commercial, limited-recourse & structured financing

� Arrange atypical, project specific financial guarantees

� Provide financial support� in execution & negotiation stage (e.g. participate in financial discussions)� in bidding stage (e.g. prepare financing section of the bid)� in pre-bid stage (e.g. support projects & opportunities screening)� in acquisition stage (e.g. support strategy preparation & marketing)

� Provide Offset & Countertrade services

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FinancialAdvisory Provider of Value-adding Services (cont.)

Offset and Countertrade Services

� Support ABB and third party clients by structuring Offset programs and fulfilling contractual Offset obligations, mainly with state owned buyers for the realization of large-scale projects

� Fulfilling contractual offset obligation can take the form of export promotions, investments, joint ventures and job creations, etc.

� 15 Offset Programs under execution

� Countries where Offset & Countertrade is currently executing Offset Programs include for example Switzerland, Norway, Finland, Poland, South Africa, Slovenia, Austria, Turkey, Italy, Portugal, Spain, Thailand, Chile and Brazil

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FinancialAdvisory Financial Advisory Roadmap to Success

Origination Structuring Sourcing FinancialClosing

Evaluation /Negotiation

Conduct due diligence

Construct financial model

Prepare Information Memorandum

Solicit proposals from the best potential sources

Evaluate proposals together with the clients

Facilitate negotiation with the providers of the financing

Identify and contact potential banks, Export Credit Agency and financial institutions

Evaluate risk and develop mitigates

Conduct bankabilitytests and assess market appetite

Fine tune the most optimized structure

Provide independent advise to the client in selecting the lead lenders/arrangers

Assist the client to finalize the documentation with the selected lead lenders / arrangers

Formulate indicative Term Sheets

Support the client in negotiating the final Term Sheets

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FinancialAdvisory

The Project450,000 MTA

integratedPropane Dehydrogenation

& Polypropylene Plant

Owner

National PetrochemicalIndustries Company

&Basell

Saudi Polyolefins Plant, Saudi Arabia

Lead-Arrangers Riyad Bank

Al Bank Al Saudi Al Fransi

Arab Petroleum Investments Corp.

Sumitomo Mitsui Banking Corp.

Total Commercial Debt280 MUSD

Success Stories – Limited Recourse Project Finance

ABB Financial Advisory Structured Finance Role:� Acted as financial advisor to the project owner� Secured 280 MUSD commercial loans on a limited recourse structure

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FinancialAdvisory Success Stories - Multisourced Project

ABB Structured Finance Role:� Acted as financial advisor to the equipment supplier� Arranged the entire financing package� Co-ordinated Export Credit Agency, European Investment Bank & commercial bank

The Project

108 Metro Carsfor

Bucharest Metro Line 2

OwnersMetroex Buchuresti

Bucharest Metro, Romania

Lenders Svenska Handelsbanken

European Investment Bank

Export Credit AgencyEKN

Total Debt120 MUSD

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FinancialAdvisory Proven Track Record 2002

Project Country MUSD Customer / Borrower

Pidiregas 412 Mexico 21 Elina 412Pidiregas 503 Mexico 11 Elina 503Vizag II HVDC India 40 PGCILPlanta Centro Venezuela 35 CadafeOK1 Algeria 48 SonatrachSchahin-Alusa LT B&C Brazil 230 Schahin-AlusaRBO Switzerland 110 StadlerStarlight Lightening UK 6 SPCKestrel Aluminum Dubai 80 Kestrel AluminumCaruachi Venezuela 23 EDELCA4/KDL Algeria 9 SonelgasChogart Extension Iran 12 SepahArdakan Iran 11 SepahLing Ao Extension China 9 GNPPPidiregas 409 Mexico 240 Elina 40917 ANMs Oil Tree Brazil 19 PetrobrasElectrica S.A. PS-1 Romania 25 Electrica S.A.LoC Sodra Sweden 20 Sodra Skogsagarna

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FinancialAdvisory Proven Track Record 2001

Project Country MUSD Customer / Borrower

GME 3 (Gas terminals) Algeria 104 SonatrachKTO Pipeline Control Kazakhstan 43 KazTransOil (KTO)Tower P1X Process Line Belgium 40 Tower Automotive*Pidiregas 407 Mexico 82 Elina 407BIOC Central Utility Iran 204 Fajr Petrochemical Co.Valle de Mexico Mexico 185 Comision Federal de Elec. (CFE)Rio Polimeros Brazil 650 Rio PolimerosCIEN 2 Transmission Brazil 150 EndesaNIC Polyoropylene Saudi Arabia 300 NIC/Basell JV Co.Omniun Painting Line Slovakia 10 Plastic Omnium*

* Lessee

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FinancialAdvisory Proven Track Record 2000

Project Country MUSD Customer / Borrower

api Energia Refinancing Italy 660 api Energia Bucharest Metro Romania 125 Romanian Railway AuthorityOhanet Refinery Algeria 50 Petrofac ResourcesTurow III Power Poland 285 Elektrownia TurowBowin Power Thailand 375 Bowin Power Co. Ltd.Monsanto Herbicide Brazil 107 MonsantoTyumen Refinery Upgrade Russia 280 Tyumen OilThree Gorges Switchyard China 70 Three Gorges Dev. Corp.Baku Power Extension Azerbaijan 55 AzerenerjiRas Abu Fontas Qatar 140 Qatar Electricity & Water CompanyCross Sound Cable USA 120 Cross Sound Cable LLC*

* Lessee

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FinancialAdvisory Proven Track Record 1999

Project Country MUSD Customer / Borrower

Sorporcel Co-Gen Power Portugal 50 SoporcelBrestanica Power Slovenia 55 Elektrarna3 Gorges Transmission China 323 3 Gorges Dev. Corp.Shoaiba Power Saudi Arabia 835 SCECO / EWRBaku Power - Phase 1 Azerbaijan 55 AzerenerjiRosarito Power Mexico 345 Rosarito Power, S.A.Edelca Transmission Venezuela 80 EdelcaHassi Berkine Algeria 55 SonatrachTurow Power 4-6 Poland 665 Wlektrownia TurowZA CC Power Plant North Africa 250 state-owned power company

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FinancialAdvisory Proven Track Record 1998

Project Country MUSD Customer / Borrower

Shurtan Gas Chemical Uzbekistan 670 UzbekneftegasYamal Pipeline Poland 180 Europol GazLondon Underground UK 215 Power Assets Dev. Co.Azito Power Ivory Coast 205 CinergyIzmir Light Rail Turkey 140 City of IzmirTocopilla Power Chile 165 Electroandina S.A.Oriental Centro Trans. Mexico 65 Oriental Centro S.A.Komotini Power Greece 143 Public Power CorpNorske Paper & Pulp Norway 620 Norske Skog AS*

* Lessee

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FinancialAdvisory Contacts

Country / Region Advisory Location Contact Person

Zurich Enrico Viale + 41 1 306 8829Head of Financial Advisory

Eastern Europe & CIS Zurich Keith Howlett + 41 1 306 8806

Middle East & Africa Zurich Christoph Bach + 41 1 306 8831

Switzerland Baden Roger Schaerer + 41 58 585 1985

Sweden Stockholm Lars Holmberg + 46 8 458 5070

Finland Helsinki Olli Lempiainen + 358 10 22 23570

North America Stamford Alok Mathur + 1 203 961 7945

South America Sao Paulo Victor Oliveira + 55 11 3688 9701

Italy Milano Angelo Colombo + 39 02 2414 8432

France Paris Jacques Dogouve + 33 1 4197 4464

Asia New Delhi Srinagesh Talatam + 91 11 682 6154

Offset & Countertrade Zurich Iwan Bannwart + 41 1 306 8825

Phone