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Sandvik exceeds 90% in Tamrock - compulsory redemption requested

Sandvik's purchase on the market of Tamrock shares has yielded favorable results.

Consequently, Sandvik has decided to request conversion of a minor portion (nominal value of FIM 38.6 million, with rights to 3,360,000 shares) of its convertible debenture loan in Tamrock Oy in order to surpass 90% of the capital and votes in the company. As a result, the previously announced public offer and a redemption in accordance with the Companies Act can be carried out concurrently. The measure facilitates a faster acquisition of the remaining shares in Tamrock which subsequently contributes to being able to capitalize on the integration effects more rapidly.

Sandviken, 24 November 1997

Sandvik AB; (publ)