Sandvik AB - Report on the third quarter 2003

    SANDVIK AB
Report on the third quarter 2003

Continued growth and improved earnings in the third quarter

"Order intake and invoiced sales increased in the third quarter for comparable
units, in a continued weak business climate. Operating profit rose 8% despite
negative currency effects. Profit increased for Sandvik Tooling and Sandvik
Mining and Construction but declined for Sandvik Materials Technology. The
business climate remains uncertain and we do not expect any significant change
in demand in the near future," says Sandvik President and Chief Executive
Officer Lars Pettersson.

Key figures       Q3      Q3   Change    Q1-3         Q1-3     Change 
SEK M           2003    2002        %      2003       2002          % 

Order         11 550  11 850       -3 1) 37 380     37 550          0 1)
intake                               
Invoiced      11 520  11 730       -2 2) 35 930     36 040          0 2)
sales                                
                                                                     
Operating      1 304   1 213       +8     4 162      4 248         -2 
profit
  %               11      10                 12         12            
                                                                     
Profit         1 103   1 036       +6     3 575      3 754         -5 
after
financial
items
  %               10       9                 10         10            
                                                                     
Net profit       788     758       +4     2 530      2 496         +1 
  %                7       6                  7          7            
                                                                     
Earnings        3.15    3.00              13.90  3)  14.20 3)          
per share,                                               
SEK
Return on                                  15.3       14.8            
capital employed, % 3)

1) +2 % and +3 % at fixed exchange rates for comparable units.
2) +2 % and +3 % at fixed exchange rates for comparable units.
3) Rolling 12 months.

For additional information, please call [phone].