Invoiced sales: SEK 5,528 million (7,957)

Net earnings: SEK 173 million (526)

Earnings per share: SEK 5.78 (17.54)

Earnings after financial items in current operations: SEK 248 mill. (233)

Earnings per share in the current operations: SEK 5.78 (5.42)

ITT Industries, Inc. today named Riccardo Trossi to the position of President of ITT’s Motion and Flow Control group. He succeeds Brenda Reichelderfer, who was recently selected to head the company’s Electronic Components group. Trossi was previously President of ITT’s Galfer business unit, based in Barge, Italy.

At Cardo AB’s annual general meeting, the following members of the board were re-elected: Tuve Johannesson, Berthold Lindqvist, Fredrik Lundberg, Lennart Nilsson, Bengt Pettersson, Anders Rydin and Kjell Svensson.

As of January 2002, Cardo Pump includes the acquired companies Swedmeter AB and Nopon Oy with a combined annual turnover of approximately SEK 150 million.

· Inflow of orders: SEK 2,664 million (2,900)

· Invoiced sales: SEK 2,623 million (2,375)

· Earnings after financial items: SEK 79 million (76)

· Preliminary agreement on sale of Rail

At Cardo AB’s annual general meeting today, the following members of the board were re-elected: Tuve Johannesson, Fredrik Lundberg, Lennart Nilsson, Bengt Pettersson, Anders Rydin and Kjell Svensson. In addition, Berthold Lindqvist was elected as a new member of the board.

Cardo announced increased inflow of orders and invoiced sales of its business unit Pumps, where ABS is the major part.

Cardo has acquired the Finnish company Nopon Oy, one of the world’s leading manufacturers of products for aeration in connection with biological wastewater treatment. Nopon has a turnover of approximately SEK 120 million and employs 65 people. The Cardo Pump business area’s range of products for the water and wastewater segment is being supplemented by this acquisition.