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Sandvik forms a new business area: Sandvik Mining and Construction

Effective 1 April 1998, Sandvik has formed a new business area, Sandvik Mining and Construction, combining the operations of the two companies Tamrock and Sandvik Rock Tools.

The business area's operations comprise five business sectors: Hard Rock Mining, Coal, Construction, Roxon and Rock Tools. The business area's management will be based in Sandviken, Sweden.

Jouko M Jaakkola, currently President of Tamrock, has been appointed President of Sandvik Mining and Construction and Lars-Anders Nordqvist Executive Vice President, with overall business area responsibility for supply chain management and IT. Lars-Anders Nordqvist will also continue to serve as manager of the Rock Tools business sector.

Rune Nyberg will assume the position as Vice President Human Resources. He also retains his present position as Vice President Sandvik Group Staff Personnel. Eero Immonen has been appointed Vice President Business Development. Until further notice Juha Seppälä assumes the position of Business Area Controller and Eeva-Liisa Vallin retains her position as Communication Manager.

Jouko M Jaakkola and Kai Miesmäki continue in their respective positions as President and Executive Vice President of the Finnish Tamrock Corp. Kai Miesmäki is also responsible for legal, patent and general administration issues for the business area.

Sandvik Mining and Construction has the market's most comprehensive range of products for rock-working operations in mining and civil engineering. The Finnish based Tamrock is one of the world's leading manufactures of equipment for drilling, excavation, demolition and transport of rock and minerals. Sandvik Rock Tools is a leading global supplier of rock-drilling tools. Combined, the two companies can offer customers maximum productivity through total systems solutions including machinery, service and tools.

The invoiced sales of Sandvik Mining and Construction will amount to more than SEK 10,000 M and the number of employees to approximately 7,000.

Sandviken, 23 March 1998

Sandvik AB; (publ)