Proposed change in Atlas Copco’s Board of Directors

March 23, 2001

At the Annual General Meeting of Atlas Copco AB, to be held April 26, 2001, shareholders will vote on one new Board member: Thomas Leysen, President and CEO of Union Minière N.V., Belgium. The nominations are supported by shareholders representing a total of more than 40 percent of the total number of votes.

The following members have been nominated for re-election to the Board of Atlas Copco: Anders Scharp, Jacob Wallenberg, Sune Carlsson, Kurt Hellström, Lennart Jeansson, Ulla Litzén, Giulio Mazzalupi, Hari Shankar Singhania, and Michael Treschow.


Thomas Leysen has also been nominated for election to the Board. Mr. Leysen, born 1960, is President and CEO of Union Minière N.V. in Belgium, and a member of the Board of KBC Bank & Insurance Holding Company and Alcatel Bell. Furthermore, Mr. Leysen is a Director of Rubenshuis in Antwerp, Belgium.


Paul-Emmanuel Janssen, Honorary Chairman of Genéralé de Banque, Brussels, and Chairman of the Board of Directors of Atlas Copco Airpower, Belgium, has declined re-election. At the age of 70 he is leaving the Board after having played an active part since he was elected in 1994.


The nominations for Board members are supported by the following shareholders representing a total of more than 40 percent of the votes in the Company and includes Investor, Robur Fonder, 4:e AP-fonden, SEB Fonder, Alecta (formerly SPP) and Skandia, all based in Sweden. The nomination procedure is described in Atlas Copco’s Annual Report which will be published on March 27, 2001.


The Atlas Copco Group is an international industrial company with its head office in Stockholm, Sweden. In 2000, the Group had revenues of $5 billion USD, with 98 percent of revenues outside Sweden, and close to 27,000 employees. Atlas Copco companies develop, manufacture, and market electric and pneumatic tools, compressed air equipment and generators, construction and mining equipment, assembly systems, and offer related service and equipment rental. More information is available on www.atlascopco-group.com.



For further information, please contact:

Annika Berglund, Senior Vice President, Group Communications, Atlas Copco AB

Phone +46 8 743 8070, mobile +46 70 322 8070, annika.berglund@atlascopco.com

Rhonda Moritz, Communications Manager, Atlas Copco North America Inc.

Phone +1 973 439 3438, mobile +1 973 517 1912, rhonda.moritz@atlascopco.com