Atlas Copco: Tom Zorn appointed Business Area Executive for Rental Service

Stockholm, Sweden, December 16, 2004: Effective January 1, 2005, Tom Zorn has been appointed Business Area Executive for the Rental Service business area, and CEO for Rental Service Corporation. He succeeds Freek Nijdam, who will remain in the position as Chairman of the legal operation.

Tom Zorn joined Rental Service Corporation in June 2003 and has, since July 1, 2004, been heading the regional operations of the business area as Chief Operating Officer. In his new position, Zorn will be a member of Atlas Copco’s Group Management. “Tom Zorn has a deep knowledge of and a long experience from the rental industry, combined with proven leadership skills,” says Gunnar Brock, President and CEO, Atlas Copco Group. “He has contributed strongly to the implementation of the turn-around strategy that reversed the negative trend of the business area, and to the process of restructuring the districts and making them more efficient.” Tom Zorn has a BA in Economics, and an MBA from the University of Michigan. During the first eight years of his career, he held various positions within Ford Motor Company. From 1996 he was responsible for the Budget Truck Rental division. After a one-year assignment as Senior Vice President, Global Strategy for Security Capital Group (a subsidiary of GE Capital), Zorn returned to Budget Rental Car as the President of Ryder Truck Rental (TRS) and Budget Truck Rental. Freek Nijdam, who has been serving Atlas Copco in various positions in a number of countries since 1970, remains in the position as chairman of the board of Rental Service Corporation. He will also continue to work with special assignments and will report to the President and CEO of the Atlas Copco Group. For further information please contact: Gunnar Brock, President and CEO +46 (0)8 743 8000 Annika Berglund, Senior Vice President Communications +46 (0)8 743 8070 or +46 (0)70 322 8070