Sandvik acquires additional shares outstanding in Walter

    Sandvik acquires additional shares outstanding in Walter

Sandvik has acquired additional shares in German Walter AG and the
Group's shareholding in the company now amounts to 96.44% of the votes,
including the 5.18% owned directly by Walter. Sandvik intends to
continue to increase its shareholding in Walter AG and is presently
analyzing different alternatives, with the target to reach an ownership
of 100%.

Sandvik reached an agreement during the autumn of 2001 with the
principal owners of Walter covering the acquisition of the majority of
the shares in the company. Following approval of the German competition
authorities on 21 December 2001, the acquisition was initiated and
Walter was consolidated as of 25 February 2002. In September 2002, a
public offer was made to the other shareholders in Walter regarding the
acquisition of all shares outstanding in the company.

Sandviken, 23 May 2003

Sandvik AB; (publ)

For additional information, contact Peter Larson, Executive Vice
President and CFO, Sandvik AB, [phone].