SANDVIKEN, Sweden, Oct. 10, 2005 (PRIMEZONE) -- At Sandvik AB's Annual General Meeting on 3 May 2005 it was resolved that the Nomination Committee shall comprise five persons. The four largest shareholders shall each appoint a member and they, jointly with the Chairman of the Board, shall comprise the Nomination Committee for the period until the next Annual General Meeting. The Chairman of the Board is the convening authority. The composition of the Nomination Committee prior to the Board election in 2006 shall be announced publicly as soon as it is appointed, however, not later than six months prior to the Annual General Meeting.
The Chairman of the Nomination Committee shall be the member appointed by the largest shareholder. No fees are paid to the members of the Nomination Committee.
The Nomination Committee shall prepare proposals regarding the Chairman of the Meeting, the number of Board members, fees to the Board members and the auditors as well as proposals regarding the Board members and the Board Chairman.
Based on the ownership structure in Sandvik AB at 30 September 2005, the Nomination Committee for the period prior to the 2006 Annual General Meeting comprises the following members:
Carl-Olof By, Industrivarden Curt Kallstromer, Handelsbanken's Pension Foundation and Pension Fund Sarah McPhee, AMF Pension Marianne Nilsson, Robur Clas Ake Hedstrom, Sandvik's Board Chairman
Carl-Olof By will be the Nomination Committee Chairman.
Shareholders wishing to present proposals to the Nomination Committee can submit them to the Nomination Committee's secretary, Bo Severin (Sandvik's Chief Counsel), by post to Sandvik AB, Attn: Bo Severin, SE-811 81 Sandviken, Sweden, or by e-mail to: bo.severin@sandvik.com. Information about the Annual General Meeting and the Nomination Committee is available at the company website: www.sandvik.se or www.sandvik.com.
Sandviken, 10 October 2005
Sandvik AB; (publ)
Clas Ake Hedstrom Board Chairman and convening authority for the Nomination Committee
Sandvik is a global industrial group with advanced products and world-leading positions in selected areas -- tools for metal cutting, machinery and tools for rock excavation, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems and sorting systems. The Group has 38,000 employees in 130 countries, with annual sales of approximately SEK 55,000 M.
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