Organization changes

Lars Pettersson, Executive Vice President of Sandvik AB and President of Sandvik Steel, has also been appointed President of the Sandvik Specialty Steels business area, which also includes Kanthal and Sandvik Process Systems.

Anders Thelin, President of Sandvik Coromant, has also been appointed President of the Sandvik Tooling business area, which also includes Sandvik CTT and Sandvik Hard Materials, and appointed a member of Group Executive Management.

Rune Nyberg, Group Vice President Human Resources at Sandvik AB, has been appointed a member of Group Executive Management.

As of 1 November 2000, Sandvik's Group Executive Management comprises:

• Clas Åke Hedström President and Chief Executive Officer
• Peter Larson Executive Vice President and Chief Financial Officer
• Lars Pettersson Executive Vice President and President Sandvik Specialty Steels and Sandvik Steel
• Anders Ilstam Group Vice President and President Sandvik Mining and Construction
• Anders Thelin Group Vice President and President Sandvik Tooling and Sandvik Coromant
• Rune Nyberg Group Vice President Human Resources

New President for Sandvik Hard Materials

Lars Wahlqvist, President of Sandvik Hard Materials is exercising his right to early retirement and will be succeeded on 1 February 2001 by Sven Flodmark, currently Regional Manager of the company Sandvik South East Asia, with head office in Singapore.

Sandviken, 1 November 2000

Sandvik AB; (publ)