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Sandvik Group

Directed share issue and bonus issue in Sandvik in connection with the share redemption

The Board of Directors of Sandvik AB has decided, with authorisation by the Annual General Meeting on 6 May 1997 to increase the company's share capital through a new issue of 507,710 series A shares, without shareholders' preferential rights.

Stiftelsen Sandvik Resultatandel, a personnel foundation for Sandvik employees, is entitled to subscribe for the shares.

The purpose of the new issue is to provide the company with funds corresponding to at least the amount, by which the share capital will be reduced due to the redemption of shares. The issue price has been decided to be SEK 199.80 per share, corresponding to the total market value of all traded series A shares in Sandvik on the Stockholm Stock Exchange on 30 May 1997 divided by the total number of traded A shares during the day. Thereby, Sandvik will receive proceeds of SEK 101,440,458.

The share issue is proposed to be combined with a subsequent restoration of the share capital (bonus issue) of SEK 258,696,000, whereby the nominal value per share is increased from SEK 5 to SEK 6. These measures will allow payment from the redemption procedure to be accelerated.

After the completion of the redemption procedure and the share issue in combination with the restoration of the share capital, the number of shares in Sandvik will amount to 258,696,000, whereof 189,450,259 series A shares and 69,245,741 series B shares.

The decisions to redeem shares and to restore the share capital are intended to be taken at the Extraordinary General Meeting in Sandviken on 9 June 1997.

Sandviken, 30 May 1997

SANDVIK AB; (publ)
Board of Directors

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