Heidi Giæver Oram named Vice President Public Affairs

January 9, 2004

Stockholm, Sweden, January 8, 2004— Heidi Giæver Oram, currently General Manager of CPD International, a company within the Industrial Technique business area, has been named Vice President Public Affairs at Atlas Copco AB, effective February 1, 2004.

Giæver Oram’s responsibilities within this newly established position cover sustainability issues and include relations with external parties such as governmental and non-governmental organizations, authorities, and investors, as well as public reporting and communication regarding sustainability.

“Giæver Oram’s 18-year long international industrial business experience has been characterized by a belief in conducting business in a sustainable way,” says Annika Berglund, Senior Vice President, Group Communications, to whom Giæver Oram will be reporting. “We are very fortunate to have internally attracted a person with her background and experience to this new position.”

Heidi Giæver Oram began her career with Atlas Copco in 1992 as Sales Manager for Desoutter Automotive Ltd, in England. Appointed to her current position as General Manager for the international customer center within the CP Division in 1998, Giæver Oram is responsible for the division’s operations within selected markets in Europe, Asia, the Middle East and South America.

Heidi Giæver Oram holds a Bachelor of Science degree in Chemical Engineering from the University of Salford, England.

Giæver Oram is a Norwegian citizen. She grew up in Norway and spent part of her childhood in Uganda, Kenya and Tanzania. She worked in Hong Kong between 1995 and 1997. During the past six months she has been based in Shanghai, China.