OUTOKUMPU CEO JYRKI JUUSELA TO RETIRE AT

OUTOKUMPU OYJ    STOCK EXCHANGE RELEASE  May 25, 2004 at 1.00 pm

OUTOKUMPU CEO JYRKI JUUSELA TO RETIRE AT THE END OF 2004

The CEO of Outokumpu Oyj, Dr. Jyrki Juusela, has decided to retire
at the end of this year. He has been employed by the Outokumpu
Group since 1971 and served as CEO since the beginning of 1992.
Jyrki Juusela will be 61 years of age in November this year. The
Board of Directors of Outokumpu Oyj has already started a process
to appoint a new CEO, by early autumn.

Jyrki Juusela comments his decision to retire:

"Thirteen years has been a long enough time at the helm of a
strongly evolving company. The new Outokumpu has, especially with
the efforts during the past five years, been given its shape as a
leading and profitable metals and technology Group. It is now an
appropriate time to let the younger take the helm. I’m convinced
that the favorable development of the Group will continue even
stronger under new leadership".

The Chairman of the Board of Directors, Mr. Heimo Karinen says:

"Jyrki Juusela’s term as CEO is marked by strong growth and
transformation of the Group, as well as by actively influencing
the global structures of the industry. Outokumpu has transformed
from a mining and smelting company into a significant global
metals and technology Group. The growth and transformation has
been especially evident within stainless steel, in which we are
now one of the leading and most efficient companies. Our
competitiveness has also been improved in copper and technology.
The Board of Directors has all the reason to commend Jyrki Juusela
for the excellent work done for the company and its owners".


OUTOKUMPU OYJ
Corporate Management

Eero Mustala
Senior Vice President - Corporate Communications
tel.+358 9 421 2435, fax +358 9 421 2429
e-mail: eero.mustala@outokumpu.com
home page: http://www.outokumpu.com