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New President of Sandvik Steel

Peter Gossas, Executive Vice President of Sandvik Steel and head of the company's tube and pipe division has been appointed the new President of the business sector, Sandvik Steel, effective 7 May 2002.

Gossas succeeds Lars Pettersson who, effective as of the same date, has been appointed the new President and CEO of Sandvik AB, as previously announced. Lars Pettersson retains the position as President of the Sandvik Specialty Steels business area in which Sandvik Steel is included.

"AlttextPeter Gossas, new President of Sandvik Steel.

Peter Gossas, 52, has extensive experience in the steel industry. He worked within SSAB from 1974 until 1986 and, since that time, held various executive positions within AvestaPolarit. On 17 April 2001, he was appointed head of Sandvik Steel's tube division and Executive Vice President of Sandvik Steel. Gossas will continue to function as head of the tube and pipe division.

Sandviken, 16 January 2002

Sandvik AB; (publ)