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Redemption price per Sandvik share determined

On 14 April 1997, Sandvik announced a redemption proposal to an amount of SEK 4,000 M with an application period for the shareholders during the period 7 May to 22 May 1997.

Based on the market price of Sandvik's series A and series B shares during the application period, the redemption price per share has been determined at SEK 197.16, corresponding to the average share price during the last three days of the application period less three (3) per cent, according to the calculation principles described in the previously distributed information brochure.

The total number of shares that will be redeemed is 20,288,090.
After the redemption procedure, the total number of shares in Sandvik will amount to 258,188,290.

The Board of Directors of Sandvik will propose that an Extraordinary General Meeting to be held on 9 June 1997 make the required resolutions according to the terms of the redemption proposal. The resolutions of the Extraordinary General Meeting will not be required to be made conditional upon court approval since the share capital is intended to be restored through a directed share issue and a subsequent restoration of the share capital (bonus issue).

Further information regarding the directed share issue and the subsequent restoration of the share capital (bonus issue) will be announced on 2 June 1997.

Payment for the redeemed shares is expected to be made during week 26.

Sandviken, 23 May 1997

SANDVIK AB; (publ)
Board of Directors