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Sandvik Aktiebolaget (SDF)

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Wednesday 11 December, 2002

Sandvik Aktiebolaget

Sandvik enters global cooperation with Red Cross

Sandvik enters global cooperation with Red Cross

Sandvik has reached an agreement with the Swedish Red Cross covering
global cooperation for three years. The agreement is unique and
comprises:

·         Purchase of services from the Red Cross for training of
Sandvik employees worldwide in the Group's values regarding ethical,
social and environmental responsibility.
·         Sandvik's employees are available to assist the International
Federation of Red Cross and Red Crescent Societies in the event of
catastrophe situations.

Sandvik has expanded strongly during the past decade. Sales have more
than doubled as a result of organic growth and some thirty acquisitions
worldwide, including several very large ones. Today, Sandvik has 37,000
employees and operations in 130 countries. Many of its customers are
also global and expect that Sandvik acts consistently, regardless of
country in which it operates.

Against this background, it is strategically important to accelerate the
pace of implementing the Group's values and policies regarding ethical,
social and environmental responsibility. These issues affect all
employees, in all companies, and in all countries. This effort is a
natural step in Sandvik's ongoing improvement program.

"It is very pleasing that we now join with the Red Cross as a partner in
these important value issues," says Lars Pettersson, President and CEO
of the Sandvik Group. "Gaining access to the Red Cross's unique
competence and experience of working, for example, with ethical and
social issues in a global organization is good for Sandvik and
represents an important support to our employees around the world."

"Sandvik's decision to educate its employees in ethical and social
issues shows a long-term commitment," says Christer Zettergren,
Secretary General of the Swedish Red Cross. "At the same time, Sandvik's
technical know-how and expertise can contribute to increasing
catastrophe readiness."

Sandviken, 11 December 2002

Sandvik AB; (publ)

For further information, contact Tom Erixon, Group Vice President
Business Development and IT and member of Sandvik's Group Executive
Management, +46 26 26 10 03, or Christer Zettergren, Secretary General,
Swedish Red Cross, +46 8 452 48 01, +46 730 40 48 01.

A joint press conference about the cooperation will be held on
Wednesday, 11 December, 11:00 a.m., at the Red Cross head office,
Hornsgatan 54, Stockholm.

Sandvik is a high-technology engineering group with advanced products
and world-leading positions in selected areas - tools for metalworking,
machinery and tools for rock excavation, stainless steel, special alloys
and resistance heating materials and process systems. The Group has
37,000 employees in 130 countries, with annual sales of approximately
SEK 55,000 M.

The Red Cross is the world's largest humanitarian volunteer
organization. The Red Cross is located in 178 countries and has about
100 million members.

                                                                                                                                                                                                                                             

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