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MANAGERS HAVE EXERCISED THE OVER-ALLOTMENT OPTION IN OUTOKUMPU TECHNOLOGY OFFERING

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OUTOKUMPU OYJ  STOCK EXCHANGE RELEASE  OCTOBER 13, 2006 AT 16.15 PM


Not for release, publication or distribution, directly or
indirectly, in or into the United States, Canada, Australia or
Japan.

MANAGERS HAVE EXERCISED THE OVER-ALLOTMENT OPTION IN OUTOKUMPU
TECHNOLOGY OFFERING

In connection with the initial public offering of Outokumpu
Technology Oyj, Nordea Bank Finland Plc as the Global Coordinator
has today exercised, on behalf of the managers, the over-allotment
option to purchase 3 360 000 additional shares of Outokumpu
Technology from Outokumpu to cover over-allotments in the
institutional tranche of the offering. The net proceeds to Outokumpu
from the exercise of the over-allotment option are approximately EUR
40 million and the capital gain recorded by Outokumpu will increase
by some EUR 30 million.

Outokumpu´s shareholding in Outokumpu Technology will fall to 
5 039 999 shares after the exercise of the over-allotment option
representing 12 percent of the share capital and votes in Outokumpu
Technology.

For further information, please contact:

Kari Lassila, SVP – IR and Communications, tel. +358 9 421 2555
kari.lassila@outokumpu.com

Eero Mustala, SVP – Corporate Communications, tel. +358 9 421 2435
eero.mustala@Outokumpu.com

OUTOKUMPU OYJ
Corporate Management

Ingela Ulfves
Vice President - Investor Relations
tel. + 358 9 421 2438, mobile +358 40 515 1531, fax +358 9 421 2125
e-mail: ingela.ulfves@outokumpu.com
www.outokumpu.com

The information contained herein is not for publication or
distribution, directly or indirectly, in or into the United States,
Canada, Australia or Japan. The materials do not constitute an offer
of securities for sale in the United States, nor may the securities
be offered or sold in the United States absent registration or an
exemption from registration as provided in the U.S. Securities Act
of 1933, as amended, and the rules and regulations thereunder. There
is no intention to register any portion of the offering in the
United States or to conduct a public offering of Shares in the
United States.

The information contained herein shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of the securities referred to herein in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration, exemption from registration or qualification under the
securities laws of any such jurisdiction.

This document does not constitute an offer of securities to the
public in the United Kingdom.  No prospectus has been or will be
registered in the United Kingdom in respect of the securities, and
consequently the securities must not be sold or offered for sale in
the United Kingdom, except to persons whose ordinary activities
involve them in acquiring, holding, managing or disposing of
investments (as principal or agent) for the purposes of their
business or whom it is reasonable to suppose will acquire, hold,
manage or dispose of investments (as principal or agent) for the
purposes of their business.

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