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Sandvik's Special General Meeting on 18 December 2000

As previously announced, the Sandvik Board of Directors' proposal regarding the intra-Group transfer of Sandvik Invest AB from Sandvik AB to Sandvik Finance B.V. will be available to shareholders as of 8 December 2000.

The Board's proposal also covers the transfer of CTT Cutting Tool Technology B.V. from Sandvik AB to Sandvik Finance B.V.

In total, these intra-Group transfers will mean that approximately SEK 9,450 million of retained earnings within the Sandvik Group will be credited to the Parent Company. The consolidated income statement and balance sheet will not be affected.

Sandviken, 8 December 2000

Sandvik AB; (publ)
Board of Directors