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OUTOKUMPU TO USE TREASURY SHARES TO ACQU

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OUTOKUMPU OYJ    STOCK EXCHANGE RELEASE December 30, 2003 at 10.00 am


OUTOKUMPU TO USE TREASURY SHARES TO ACQUIRE FULL OWNERSHIP IN
NEUMAYER

Outokumpu has signed an agreement whereby it will acquire the
remaining 50% ownership in Neumayer GmbH, which is a subsidiary
of Outokumpu Copper fabricating various alloy wire products in
Leobersdorf, Austria. Full ownership in the company will enable
Outokumpu to develop the business into more value-added
direction. In 2002, Neumayer generated net sales of EUR 11
million and it employs 90 people. The transaction is aimed to
be completed at the end of February 2004, once the approvals
from the relevant competition authorities have been obtained.

As consideration Outokumpu Oyj will transfer 309 597 treasury
shares to the seller. Based on the closing price of the
Outokumpu share on the Helsinki Exchanges on December 29, 2003
the total value of the shares to be transferred is some EUR 3.3
million. Following the transfer Outokumpu Oyj holds 813 843
treasury shares.


OUTOKUMPU OYJ
Corporate Management

Johanna Sintonen
Vice President – Investor 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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