COMPETITION AUTHORITIES GIVE THE GO-AHEA

OUTOKUMPU OYJ  STOCK EXCHANGE RELEASE December 8, 2003 at 7.05 pm

COMPETITION AUTHORITIES GIVE THE GO-AHEAD TO NEW BOLIDEN                               1

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.


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.se

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


OUTOKUMPU OYJ
Corporate Management

Johanna Sintonen
Vice President - Investor 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