Competition authorities give the go-ahead to New Boliden

Competition authorities give the go-ahead to New Boliden Boliden and Outokumpu have today been given the go-ahead from the European Commission and other relevant competition authorities in connection with Boliden's acquisition of Outokumpu's mining and smelting operations within zinc and copper and the sale of the Fabrication and Technology Sales units to Outokumpu. The transaction is scheduled to be completed by the end of the year. The transaction is still conditional on that the shareholders of Boliden, at an extraordinary shareholders' meeting on December 18, authorize the Board of Directors to decide on issuance of new shares in kind to Outokumpu as well as issuance of new shares with preferential rights for Boliden's shareholders. New Boliden is expected to be operational from January 1, 2004. It will be one of the leading smelting companies in the world and the world's fourth largest mine producer of zinc. The deal will also create a stronger company with increased financial and operational flexibility and enhanced potential for future growth. - 30 - For further information, please contact: Boliden Jan Johansson, President and CEO tel. +46 8 610 16 02, mobile +46 70 555 02 02 e-mail: jan.c.johansson@boliden.se Ulf Söderström, VP - Public Relations tel +46 8 610 15 57, mobile +46 70 618 95 95 e-mail: ulf.soderstrom@boliden.se www.boliden.com Outokumpu Eero Mustala, Senior VP - Corporate Communications tel. + 358 9 421 2435 e-mail: eero.mustala@outokumpu.com Johanna Sintonen, Vice President - Investor Relations Tel. +358 9 421 2438, mobile +358 40 530 0778 e-mail johanna.sintonen@outokumpu.com www.outokumpu.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/12/08/20031208BIT00840/wkr0001.DOC http://www.waymaker.net/bitonline/2003/12/08/20031208BIT00840/wkr0002.pdf

About Us

Boliden is a metals company with a commitment to sustainable development. Our roots are Nordic, but our business is global. The company’s core competence is within the fields of exploration, mining, smelting and metals recycling. Boliden has approximately 5,500 employees and a turnover of SEK 40 billion. Its share is listed on NASDAQ OMX Stockholm, segment Large Cap. www.boliden.com

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