ALLOCATION OF SHARES IN OUTOKUMPU OYJ?S
OUTOKUMPU OYJ STOCK EXCHANGE RELEASE January 2, 2003, at 2.00 pm
ALLOCATION OF SHARES IN OUTOKUMPU OYJS RIGTHS OFFERING COMPLETED The Board of Directors of Outokumpu has today approved the allocation and related subscriptions of shares subscribed for based on the exercise of the secondary subscription right in the rights offering of Outokumpu. Nearly 3 300 shareholders participated in the secondary subscription and a total of 142 506 shares were allocated to the shareholders. The total number of shares subscribed for in the secondary subscription, 3 154 808 shares, exceeded the number of shares available by more than twenty times. The shares were allocated to the shareholders who participated in the secondary subscription in proportion to their respective shareholdings as per the record date of the rights offering, November 27, 2002, in accordance with the terms and conditions of the rights offering. As fractions of shares could not be allotted, shareholders who held 25 or fewer shares on the record date were not allotted shares in the secondary subscription. Any excess subscription payment paid in connection with subscription commitments in the secondary subscription will be refunded without interest on or about January 3, 2003. In addition, shareholders who exercised their secondary subscription right will be notified individually of their respective allocation. The increase of EUR 242 260.20 in Outokumpus share capital corresponding to the shares allocated based on the exercise of the secondary subscription right will be registered with the Finnish Trade Register on January 3, 2003. The shares will be delivered to shareholders book-entry accounts and commence trading on the Helsinki Exchanges on January 3, 2003. The shares subscribed for in the rights offering will entitle their holders to full dividends as from the financial year that commenced on January 1, 2002. All other rights in Outokumpu conferred by the shares will accrue to the subscriber after the increase in the share capital has been registered with the Finnish Trade Register. Following the registration of the increase in Outokumpus share capital as a result of the rights offering, Outokumpus registered share capital will amount to EUR 293 520 502.30, consisting of 172 659 119 shares. All shares subscribed for in the rights offering have been fully paid. OUTOKUMPU OYJ Corporate Management Johanna Sintonen Manager - Investor and Media Relations tel. +358 9 421 2438, mobile +358 40 530 0778, fax +358 9 421 2429 e-mail: johanna.sintonen@outokumpu.com www.outokumpu.com Not for release, publication or distribution in Australia, Belgium, Canada, France, the Hong Kong Special Administrative Region of the Peoples Republic of China, Japan, South Africa, Spain or the United States of America. The information contained herein is not for publication or distribution in or into the United States. This document does not constitute an offer of securities for sale in the United States or to or for the account or benefit of U.S. persons, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Se-curities Act of 1933, as amended, and the rules and regulations thereunder. There is no inten-tion to register any portion of the offering in the United States or to conduct a public offering of securities in the United States. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption of reg-istration or qualification under the securities laws of any such jurisdiction. A prospectus required by, and which complies with the requirements of, the Public Offers of Securities Regulations 1995 in the United Kingdom has been published in respect of the rights offering.