Changes and appointments in AvestaPolarit's top management

Mr Karri Kaitue, current President of AvestaPolarit's Coil Products division and Member of the Outokumpu Group Executive Committee, has - as separately announced in a Stock Exchange release by Outokumpu today - been appointed to an Outokumpu Group level position in the Group Executive Committee as Executive Vice President responsible for strategy and business development, investors relations and communications. He will transfer to this new job as of January 1, 2004.

Following this move, two new appointments have been made at AvestaPolarit:

Mr Antti Närhi, current President of the Special Products division, has been appointed to succeed Karri Kaitue as President of Coil Products.

Mr Olof Faxander, current Executive Vice President in charge of strategy and business development, has in turn been appointed to succeed Antti Närhi as President of Special Products.

Both above appointments in AvestaPolarit's top management will also take effect as of January 1, 2004.

Further revisions of functional responsibilities that will need to be made as a result of the above changes between the members of AvestaPolarit's Executive Committee will be decided and announced separately.

Contact for additional information:

Katarina Lybeck, Executive Vice President - Human Resources and Communications
Phone: +358 9 5764 5505 or +358 40 503 0750