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COMPOSITION OF OUTOKUMPU?S NEW GROUP EXECUTIVE COMMITTEE

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OUTOKUMPU OYJ STOCK EXCHANGE RELEASE JANUARY 11, 2005 AT 3.15 PM                                 
                                 

COMPOSITION OF OUTOKUMPU’S NEW GROUP EXECUTIVE COMMITTEE

In connection with the new management system and business
organization, the Board of Directors has appointed a new Group
Executive Committee, effective April 1, 2005, and defined its
members’ duties as follows:

Juha Rantanen  President and Chief Executive
               Chairman of the Group Executive Committee
               Responsibility: Group management
               
Karri Kaitue   Deputy President and Deputy Chief Executive
               Vice Chairman of the Group Executive Committee
               Responsibilities: commercial operations, Outokumpu
               Technology, Portfolio businesses, strategy and
               corporate planning, business development, M&A and
               legal affairs, communications, investor relations,
               corporate social responsibility
               
Pekka Erkkilä  Executive Vice President – General Stainless,
               Production Operations
               Responsibilities: General Stainless division,
               Production Operations: Production Excellence
               program, material flow optimization, R&D, EHS,
               procurement (raw materials, energy, generaL)
               
Olof Faxander  Executive Vice President – Specialty Stainless
               Responsibility: Specialty Stainless division

Esa Lager      Chief Financial Officer
               Responsibilities: financial control and tax
               planning, treasury and risk management, business
               processes and IT, shared services
               
Executive Vice President – Commercial Operations, to be appointed
               Responsibilities: Commercial Excellence program,
               sales strategy and planning, marketing, sales
               company network, stock and processing, selected key
               accounts

Executive Vice President – Human Resources, to be appointed
               Responsibilities: management and key talent
               development, management compensation and benefits,
               top management and talent review processes,
               recruiting to key positions
               
The current Group Executive Committee will continue in office
until April 1, 2005, as follows: Juha Rantanen, CEO, Karri Kaitue,
Deputy CEO, Pekka Erkkilä, Tapani Järvinen (to continue as
President of Outokumpu Technology reporting to Deputy CEO as of
April 1, 2005), Esa Lager, Juho Mäkinen (to continue as Special
Adviser to the CEO from April 1, 2005 until his retirement on July
31, 2005), Kalevi Nikkilä (to retire on March 31, 2005), Vesa-
Pekka Takala (to continue as Corporate Controller reporting to the
CFO as of April 1, 2005) and Risto Virrankoski (to retire on
February 15, 2005).

The CV of the new Group Executive Committee member Olof Faxander
is attached.


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


CURRICULUM VITAE
Olof Faxander

Born           1970

Marital status Married, two children 1 and 3 years old.

Education &    Master of Science, October 1995
degrees        Royal Institute of Technology (KTH), Stockholm,
               Sweden
               Bachelor of Social Science, January 1996
               Major in Business Administration
               Stockholm University, Stockholm, Sweden

Career
Outokumpu Group:
2004-          President - Special Products Division, Outokumpu
               Stainless
               
AvestaPolarit Oyj:
2003-2003      Executive Vice President – Strategy and Business
               Development
2001-2003      Senior Vice President– Coil Products Sheffield

Avesta Sheffield AB:
1998-2001      General Manager, Degerfors Stainless
1998-1998      Sales and Marketing Manager, Degerfors Stainless
1997-1998      Manager – Market and Product Development,
               Degerfors Stainless
1996-1997      Training and support for costing system, HQ

Interests      Sailing, hunting, fishing, skiing and jogging

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