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FRANKLIN RESOURCES INC.?S HOLDING OF OUT

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OUTOKUMPU OYJ  STOCK EXCHANGE ANNOUNCEMENT June 11, 2003 at 11.30 am


FRANKLIN RESOURCES INC.’S HOLDING OF OUTOKUMPU HAS INCREASED
TO 5.01 PERCENT

Outokumpu Oyj has been informed that the holding by the
mutual funds and separate accounts managed by affiliated
investment advisers of Franklin Resources Inc. (part of
Franklin Templeton Group) in Outokumpu Oyj has increased
from 4.97 percent to 5.01 percent of the total voting
rights of the Company on June 6, 2003.

With the 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 mutual
funds and separate accounts managed by affiliated investment
advisers of Franklin Resources Inc. (trade registration number
13-2670991) owned Outokumpu Oyj shares with the following
proportions of the share capital and voting rights on
June 6, 2003:

Holdings by mutual funds of Franklin Resources Inc.
                                        Proportion Proportion
                              Number of   of share  of voting
Fund                             shares capital, %  rights, %
Franklin Templeton                                           
Investments Corp.             5 370 149       3.11       3.11
Templeton Investment                                
Counsel, LLC                     37 675       0.02       0.02
Franklin Templeton                                  
Investment Management Ltd.      869 104       0.50       0.50
Total                         6 276 928       3.64       3.64
                                                              
Holdings of voting rights by affiliated advisers of Franklin
Resources Inc. under account management agreements
                                                              
                                        Proportion Proportion
                              Number of   of share  of voting
Adviser                          shares capital, %  rights, %
Franklin Templeton                                           
Investment Corp.              2 352 712          -       1.36
Franklin Templeton                                           
Investment Management Ltd.       20 800          -       0.01
Total                         2 373 512          -       1.37


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

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