SHARE-BASED INCENTIVE PROGRAMME FOR 2006-2010 – EARNING PERIOD 2007-2009

OUTOKUMPU OYJ STOCK EXCHANGE ANNOUNCEMENT FEBRUARY 1, 2007 AT 2.45 PM

SHARE-BASED INCENTIVE PROGRAMME FOR 2006-2010 – EARNING PERIOD 
2007-2009

Outokumpu's Board of Directors approved a share-based incentive
program as part of the key employee incentive and commitment system
of the company on February 2, 2006. Today 138 people have been
confirmed by the Board of Directors to be in the scope of the
program for its second earning period 2007-2009, which commenced on
January 1, 2007.

The program offers a possibility to receive Outokumpu shares and
cash (equaling to the amount of taxes of the total reward) as an
incentive reward, if the targets set by the Board for each earning
period are achieved. The targets confirmed for the earning period
2007-2009 are relative development of TSR (50 % of the maximum
reward) and achieving targets set for Operational Excellence
programs (50 % of the maximum reward). If the persons covered by the
second earning period were to receive the maximum reward, the
aggregate maximum number of shares to be distributed would be 231
150 shares.
       
According to the share ownership plan of the Outokumpu Group the
members of the Group Executive Committee are obliged to own
Outokumpu shares received under incentive programmes for the value
of their annual gross base salary.
       

OUTOKUMPU OYJ
Corporate Management
       
Ingela Ulfves
Vice President - Investor Relations
tel. (09) 421 2438, mobile 040 515 1531, fax (09) 421 2125
e-mail: ingela.ulfves@outokumpu.com
www.outokumpu.com