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OUTOKUMPU BOARD APPROVES THE REMUNERATIONS OF THE 2002 SHARE REMUNERATION SCHEME FOR MANAGEMENT

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OUTOKUMPU OYJ  STOCK EXCHANGE RELEASE February 10, 2005 at 1.45 pm


OUTOKUMPU BOARD APPROVES THE REMUNERATIONS OF THE 2002 SHARE
REMUNERATION SCHEME FOR MANAGEMENT

Outokumpu’s Board of Directors has today approved the remunerations
for the third remuneration period of the share remuneration scheme
for management in accordance with the maximum remuneration. A total
of 142 persons in the management or other key positions participated
in the 2002 share remuneration scheme. Approximately 280 490
treasury shares that the Company currently holds will be transferred
to the assigned persons as share part of the total remuneration on
February 14, 2005. The shares will entitle the receivers to full
dividends announced for 2004.

In March 2000, the General Meeting of shareholders approved a share
remuneration scheme as part of the incentive program for the
Company’s management and other key personnel. There are three
separate remuneration periods, each with a term of three years. The
periods commenced, on January 1, 2000, January 1, 2001 and January
1, 2002. The Board of Directors determined the persons entitled to
participate in the scheme for each remuneration period.

Pursuant to the scheme, the remuneration is based on the relative
performance of the Company’s share price, subject to the condition
that the average change in Outokumpu’s share price equals or exceeds
the average trend in the reference index. Maximum remuneration is
subject to the condition that the average change in the Company’s
share price exceeds the average trend in the reference index by a
minimum of 15%. The reference index consists of a combination of the
Dow Jones World Mining (40%) and the Dow Jones Europe Steel (60%)
indices. The remunerations under the remuneration schemes are to be
paid 60% in cash and 40% in Outokumpu shares. Under the terms of the
remuneration scheme, the shares received under the scheme must not
be sold for at least one year from their receipt.


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
www.outokumpu.com

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