Sandvik AB Effects of transition to International Financial Reporting Standards (IFRS)

As of 1 January 2005, Sandvik is applying the International Financial Reporting Standards (IFRS). In this document, the comparative figures from 1 January 2004 have been restated from the accounting principles applied previously, “Swedish GAAP”, to IFRS. The interim report for the first quarter of 2005 will be the first financial report that Sandvik provides in accordance with IFRS. For further information, contact: Per Nordberg, Executive Vice President and CFO, +46 26 261061, per.nordberg@sandvik.com Heléne Gunnarson, Senior Vice President Group Communications, +46 26 261025, helene.gunnarson@sandvik.com Jan Lissåker, Investor Relations Manager, +46 26 261023, jan.lissaker@sandvik.com