Communiqué from Industrivärden's Annual General Meeting on April 29, 1997

Communiqué from Industrivärden's Annual General Meeting on April 29, 1997 Industrivärden's Annual General Meeting decided on Tuesday, April 29, to raise the dividend by 2 kronor to 13 kronor per share. CPN interest is thus 14.95 kronor per CPN. The record date for the dividend is May 5, and thus the dividend and CPN interest are expected to be paid out on May 13. Directors reelected to the Company's Board were Dr. Bo Rydin (Chairman), Ms. Inga- Britt Ahlenius, Mr. Carl-Erik Feinsilber, Dr. Tom Hedelius (Vice Chairman), Mr. Clas Reuterskiöld (President and CEO) and Mr. Björn Wolrath. Mr. Lennart Nilsson, President and CEO of Cardo AB (publ.), was elected to his first term as a director on the Board. In his address to the Annual General Meeting, Industrivärden's CEO Clas Reuterskiöld explained the background to Industrivärden's purchase of Sandvik Class A shares for 4.1 billion kronor. With that purchase, Sandvik becomes the second-largest holding after Ericsson in Industrivärden's portfolio of listed stocks, totaling SEK 24 billion altogether. After the acquisition of the Sandvik shares, the parent company's indebtedness amounts to slightly more than 15 percent of the market-valued assets, which is a normal level from an historical perspective. Stockholm, Sweden, April 29, 1997 AB INDUSTRIVÄRDEN (publ.)