PROPOSAL FOR THE COMPOSITION OF BOLIDEN?
OUTOKUMPU OYJ STOCK EXCHANGE RELEASE November 27, 2003 at 10.00 am
PROPOSAL FOR THE COMPOSITION OF BOLIDENS BOARD OF DIRECTORS In view of the transaction between Boliden and Outokumpu, Boliden shareholders representing approximately 30 percent of the total number of shares and votes in the company has have informed Boliden that they will jointly propose at the extraordinary shareholders shareholders meeting to be held on December 18, 2003 they will jointly propose that: Ms. Satu Huber, Mr. Tapani Järvinen, Mr. Christoffer Taxell and Mr. Risto Virrankoski are elected as new members of the Bolidens Board of Directors, and replace ing MrMs. Gun Berglund, Mr. Göran Collert, Mr. Sverker Martin-Löf and Mr. Kjell Nilsson. Furthermore, they will propose that Mr. Carl Bennet, Ms. Marie Berglund, Mr. Jan Johansson and Mr. Anders Sundström will remain members of the Board members as elected by at the annual shareholders meeting in May 2003. The Board of Directors of New Boliden will altogether comprise 11 members also include including three personnel representatives, altogether comprising 11 members. Mr. Risto Virrankoski is proposed to be Chairman and Mr. Carl Bennet Deputy Chairman of the Board of New Boliden. The resolution regarding these changes to the Board of Directors of Boliden shall concern the period up until the close of the next annual shareholders meeting, and come into effect at closing of the transaction between Boliden and Outokumpu, which is estimated to take place by the year-end 2003. An invitation to the extraordinary shareholders meeting that will held on December 18, 2003 in Skellefteå, Sweden will be published tomorrow in Swedish Official Gazette, and Svenska Dagbladet, Dagens Nyheter, Västerbottens Folkbladet and Norra Västerbotten.. The invitation will also be published as a separate stock exchange release. Information on the proposed new Board members: Ms. Satu Huber, 45 M. Sc. (Econ.) Director of Finance and Head of Finance Division, Finnish State Treasury Member of the Board of Directors of Finnish Industry Ltd, National Board of Economic Defence, Association for the Finnish Culture Foundation and Deputy Member of the Board of Swedish School of Economics and Business Administration Mr. Tapani Järvinen, 56 Lic. Tech. President of Outokumpu Technology and Executive Vice President and Member of the Group Executive Committee, Outokumpu Oyj Chairman of the Finnish Latin American Trade Association Member of the Board of Directors of International Copper Association and Eurometaux MMr. Christoffer Taxell, 55 LL. M Former minister of the Finnish government Chairman of the Board of Directors of Finnair Abp, Foundation of Åbo Academy Member of the Board of Directors of Stockmann Oyj Abp, Sampo plc, Raisio Yhtymä Oyj, Nordkalk Corporation and Hormos medical Corp Mr. Risto Virrankoski, 57 B. Sc. (Econ.) Deputy Chief Executive and Deputy President, Outokumpu Oyj Vice Chairman of the Group Executive Committee of Outokumpu Oyj Member of the Board of Directors of VR Ltd (Finnish Railways) Photographs can be downloaded from Bolidens website, http://www.boliden.se. OUTOKUMPU OYJ Corporate Management Johanna Sintonen Manager - Investor and Media 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