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PEKKA ERKKILÄ TO HEAD OUTOKUMPU?S STAINL

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OUTOKUMPU OYJ   STOCK EXCHANGE RELEASE February 7, 2003 at 1.30 pm


PEKKA ERKKILÄ TO HEAD OUTOKUMPU’S STAINLESS STEEL BUSINESS AREA

Mr. Pekka Erkkilä has been appointed to Outokumpu’s Group
Executive Committee, effective immediately. He will take over
the responsibility for the Stainless Steel business area and be
President of AvestaPolarit as of June 1, 2003. Pekka Erkkilä
succeeds Mr. Ossi Virolainen who will retire on May 31, 2003.

Dr Jyrki Juusela, CEO of Outokumpu, comments on the change:
"Ossi Virolainen has himself expressed a wish to use his option
to retire one year ahead of turning 60. He has had a long and
successful career, stretching over 35 years, with the Outokumpu
Group. The past 3-4 years have been exceptionally challenging,
first in tough negotiations to forge the combination that led
to the formation of AvestaPolarit in January 2001 and then
establishing the new AvestaPolarit Group on a firm course of
becoming "Best in stainless". The ambitious growth plans for
the company have been pushed forward relentlessly.
AvestaPolarit’s track record on the stock exchanges in Helsinki
and Stockholm as such stands as proof of a job well done and is
something that Outokumpu can bank on after acquiring full
ownership of AvestaPolarit. I want to thank Ossi for all that
he has done for the company and offer him my best wishes for
the future. I am at the same time pleased that we have found a
well qualified internal candidate to succeed him in Pekka
Erkkilä, whom I gladly welcome to join also Outokumpu’s Group
Executive Committee."

Mr. Pekka Erkkilä, MSc (Eng), born 1958, has been President of
AvestaPolarit’s Coil Products Division since September 2001 and
a member of AvestaPolarit’s Executive Committee from the very
start, initially as Executive Vice President in charge of
Business Development and Technology. Prior to the formation of
AvestaPolarit, Pekka Erkkilä had a solid career with Outokumpu
Steel in Tornio, where he had been employed since 1983, holding
managerial positions in both the stainless steel and
ferrochrome parts of the integrated production.

Additional information:

Eero Mustala, SVP - Corporate Communications, tel. +358 9 421
2435, eero.mustala@outokumpu.com
Kari Lassila, SVP - Investor Relations and Corporate
Development, tel. +358 9 421 2555, kari.lassila@outokumpu.com


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

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