Interim Report, 1st January - 30th September 2004

Interim Report, 1st January - 30th September 2004 New Boliden continues to report record results Comparison between the first nine months of 2004 and 2003 · Net sales increased to SEK 13,310 million (SEK 6,962 m). · The operating result rose to SEK 1,194 million (SEK 297 m). · The operating result was negatively affected by net non-recurring items of SEK -12 million. · The result after financial items improved to SEK 887 million (SEK 80 m). · The net result increased to SEK 802 million (SEK 250 m). · Earnings per share rose to SEK 3.37 (SEK 2.35). · Cash flow from operating activities totalled SEK 1,257 million (SEK 618 m). · The net debt/equity ratio has improved substantially to 96 per cent (138%). Comparison between Q3 2004 and Q3 2003 · Net sales increased to SEK 4,265 million (SEK 2,326 m). · The operating result rose to SEK 363 million (SEK 87 m). · The operating result was negatively affected by net non-recurring items of SEK -12 million. · The result after financial items improved to SEK 273 million (SEK 11 m). · The net result increased to SEK 256 million (SEK 81 m). · Earnings per share rose to SEK 1.01 (SEK 0.76). Other · The sale of the Canadian mine, Myra Falls, was concluded in July. · In September, the European Commission fined a former Boliden company, which has now been sold, SEK 300 million for participation in a copper-tube cartel. This has affected the result of the reporting period. · Land adjacent to the Tara zinc mine in Ireland was sold in September. The sale generated a capital gain after tax of SEK 150 million. · Boliden's refinancing of the company's bank loans for a total of EUR 840 million was completed in October. Contact persons for information: Jan Johansson, President and CEO Tel.: +46 8 610 16 02 Mobile: +46 70 555 02 02 jan.c.johansson@boliden.com Ulf Söderström, Senior VP, Group Communications Tel.: +46 8 610 15 57 Mobile: +46 70 618 95 95 ulf.soderstrom@boliden.com Jan Öhman, Senior VP, Group Controlling Tel.: +46 8 610 15 33 Mobile: +46 70 624 19 05 jan.ohman@boliden.com See attached the complete Interim Report www.boliden.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/2004/10/25/20041025BIT20620/wkr0010.pdf The full report

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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