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CAPITAL GROUP COMPANIES?S HOLDING OF OUTOKUMPU?S SHARE CAPITAL IS 6.5 PERCENT

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OUTOKUMPU OYJ   STOCK EXCHANGE ANNOUNCEMENT November 16, 2004 at 11.30 am


CAPITAL GROUP COMPANIES’S HOLDING OF OUTOKUMPU’S SHARE CAPITAL IS
6.5 PERCENT

Outokumpu Oyj has been informed that the holding of the investment
management companies belonging to The Capital Group Companies, Inc.
has grown to exceed 5 percent of the paid up share capital of the
company on November 8, 2004.

With reference to Section 2, paragraph 10 of the Finnish Market
Securities Act and the relevant decision of the Finnish Ministry of
Finance, Outokumpu Oyj is reporting that the investment management
companies belonging to The Capital Group Companies, Inc. (Taxpayer
I.D. 86-0206507) owned Outokumpu Oyj shares on November 8, 2004 with
the following proportions of the voting rights and share capital.

                                                      Proportion of
Company                                      Shares voting rights %
Capital Reseach and Management Company            0           0.000
Capital Guardian Trust Company              491 600           0.271
Capital Internationl, Inc.                   28 200           0.016
Capital International Limited             6 995 315           3.860
Capital International , S.A.              1 525 303           0.842
Proportion of voting rights held (in      9 040 418           4.989
total)
                                                                   
                                                      Proportion of
Company                                      Shares share capital, %
Capital Reseach and Management Company            0           0.000
Capital Guardian Trust Company              683 425           0.377
Capital Internationl, Inc.                   28 200           0.016
Capital International Limited             9 116 441           5.030
Capital International , S.A.              2 026 156           1.118
Proportion of share capital held (in     11 854 222           6.541
total)


Please note, that The Capital Group Companies, Inc. (CGC) is a
holding company for several subsidiary companies engaged in
investment management activities. The investment activities are
divided into two operational groups, represented by Capital Reseach
and Management Company (CRMC) and Capital Group International Inc.
(CGII). CRMC is a US based investment adviser that manages The
American Funds Group of mutual funds. CGII is the parent company of
five companies that serve as investment managers to various
institutional clients around the globe: Capital Guardian Trust
Company in the US, Capital International, Inc. in the US and
Singapore, Capital International in Britain, Capital International
S.A. in Switzerland and Capital International K.K. in Japan.

Neither CGC nor any of its subsidiaries own shares of Outokumpu Oyj
for their own account. Rather, the shares reported are owned by
accounts under the discretionary investment management of one or
more of the investment management companies described above. The
discrepancy in Capital’s total shares held versus voting rights in
Outokumpu is due to some of Capital’s clients retaining their voting
rights appertaining to the shares.

OUTOKUMPU OYJ
Corporate Management

Johanna Sintonen
Vice President - Investor Relations
tel. +358 9 421 2438, mobile +358 40 530 0778, fax +358 9 421 2125
e-mail: johanna.sintonen@outokumpu.com

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