Atlas Copco Interim report at March 31, 2004 (unaudited)

STOCKHOLM, Sweden, April 27, 2004 (PRIMEZONE) -- Atlas Copco:

- Order volumes up 11%, 8% negative currency translation effect.

- Revenues reached MSEK 10 858 (10 400), up 9% in volume.

- Operating profit margin increased to 12.1% (10.3).

- Profit after financial items increased to MSEK 1 211 (956).

- Net profit increased to MSEK 819 (636), and earnings per share was SEK 3.91 (3.03).

- Operating cash flow totaled MSEK 837 (1 191).

- Agreement to acquire Ingersoll-Rand Drilling Solutions.

Note: All comparative figures are for the first quarter of 2003, unlessotherwise stated.


                                     January - March   Change
 MSEK                                  2004     2003        %
 Orders received                     11 577   10 903       +6
 Revenues                            10 858   10 400       +4
 Operating profit                     1 312    1 072      +22
 - as a percentage of revenues         12.1     10.3
 Profit after financial items         1 211      956      +27
 - as a percentage of revenues         11.2      9.2
 Net profit                             819      636      +29
 Earnings per share, SEK               3.91     3.03      +29
 Items affecting comparability
  Restructuring costs                   -14      -12
 Equity capital per share, SEK          105       99
 Return on capital employed (12          18      13*
 month value), %
 * Excluding goodwill impairment charge.

Near-term demand outlook

The positive demand trend for Atlas Copco's products and services is expected to continue.

The manufacturing and process industries are expected to continue to increase their investments and demand more aftermarket products and services. It is foreseen that the recent general improvement in demand for construction equipment will continue, even though the activity level in the important non- residential building sector in the United States is expected to remain largely flat. Demand from the mining industry is expected to remain high.

For further information Atlas Copco AB (publ) SE-105 23 Stockholm, Sweden Phone: +46-8-743 8000, Fax: +46-8-644 9045 Internet: www.atlascopco-group.com Corp. id. no: 556014-2720

Analysts

Mattias Olsson, Investor Relations Manager Phone: +46 8 743 8291, Mobile: +46 70 518 8291 ir@se.atlascopco.com

Media

Annika Berglund, Senior Vice President Group Communications Phone: +46 8 743 8070, Mobile: +46 70 322 8070

Conference call and presentation material A conference call to discuss the results will be held at 3:00 PM CET / 9:00 AM EST, on April 27, 2004. The dial-in number is +44 (0)207 984 7582. To help ensure that the conference call begins in a timely manner, please dial in 5-10 minutes prior to the scheduled start time. The conference call will be broadcasted live via the Internet. Please see the Investor Relations section of our website for link, presentation material, and further details. www.atlascopco-group.com A recording of the conference call will be available for 2 days on +44 (0) 207 784 1024 with access code 748 373#.

Interim report at June 30, 2004 The second quarter report will be published on July 16, 2004.

Atlas Copco Interim report at March 31, 2004 (unaudited)

Robust order and profit growth

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