*OUTOKUMPU OYJ: SHARES SUBSCRIBED WITH O

HEX HELSINKI     SECURITIES EXCHANGE   RELEASE 84/2004
                 SHARES                18 March 2004

OUTOKUMPU OYJ: SHARES SUBSCRIBED WITH OPTION RIGHT AND 
CONVERTIBLE BOND

A total of 673 756 new shares (OUT1VN0104) subscribed
with the option rights 1998 Outokumpu Oyj and the new
shares subscribed with the Outokumpu Oyj`s convertible
bond 1999 will be traded on as OUT1VN0104 shares as of 19
March 2004.

The new (OUT1VN0104) shares and the old shares (OUT1V) will be
traded separately from because of difference of dividend right.

Identifiers OUT1VN0104:

Trading code:                       OUT1VN0104
ISIN code:                          FI0009012454
Amount:                             836 064


HELSINKI EXCHANGES
Mikko Timonen

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