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CEO Gunnar Brock comments at Atlas Copco’s Capital Markets Days

September 20, 2002

Antwerp, Belgium, September 20, 2002 - On the second day of Atlas Copco’s Capital Markets Days, Gunnar Brock, President and CEO since July 1, gave his first impressions about the Group and made a summary of its development: "Atlas Copco is a Group with a very strong brand and corporate culture."

Brock stressed that the Group should continue to strive to be first-in-mind, first in choice, and thereby increase customer share. Growth is a key strategy for the Group and should be achieved primarily through organic growth supported by selective acquisitions. “We have good products and services, a good foundation to build on.” Brock highlighted the core values: interaction, commitment, and innovation, and said that the ability to generate new products will be of the greatest importance to achieve this target.


Brock stressed the “use of products” strategy and growth through market expansion. The “use of products” focus is on increasing revenues that come from activities related to service, spare parts, accessories, consumables and rental. These activities have a high profit potential and generate stable revenue streams. “We would like to come as close as possible to the end user.” He said that the Group sees good potential to strengthen its position in Asia, Eastern Europe and in North America.


Brock ended his presentation by commenting on current trading conditions and saw no reason to amend the Group’s near-term outlook published two months ago.


Approximately 75 analysts, investors and journalists attended Atlas Copco’s Capital Markets Days. The program focused on Atlas Copco’s compressed air technology business and also included tours of the manufacturing and product development facilities in Antwerp, Belgium.


CONTACT:

Mattias Olsson, Investor Relations Manager, Atlas Copco AB (analysts)

+46 8 743 8291, mobile +46 70 518 8291, mattias.olsson@atlascopco.com


Annika Berglund, SVP Group Communications, Atlas Copco AB (media)

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


To the editor:

Atlas Copco’s Near-term demand outlook published July 18, 2002, was:

Overall, the demand for Atlas Copco's products and services is expected to remain at the present level.

Investment in the two main regions, North America and Europe, is not expected to increase, while recent increases in manufacturing output in the United States are likely to support ongoing modest growth in demand for production-related equipment and tools in that market.

Demand for rental equipment in the United States is expected to remain unchanged in the next quarter.

Demand in Asia is expected to continue to develop favorably.


Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2001, the Group had revenues of SEK 51 billion, with 98 percent of revenues outside Sweden, and close to 26.000 employees. The Group produce and market compressed air equipment and generators, construction and mining equipment, electric and pneumatic tools, assembly systems, and offers related service and equipment rental. The Group owns famous brands like RSC, Milwaukee, Chicago Pneumatic and AEG Power Tools. More information can be found on the web site: www.atlascopco-group.com