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*SHARES SUBSCRIBED WITH OPTION RIGHTS: O

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HEX HELSINKI     SECURITIES TRADING    RELEASE 7/2004
                 SHARES                12 January 2004


SHARES SUBSCRIBED WITH OPTION RIGHTS: OUTOKUMPU OYJ 

A total of 2 195 shares have been subscribed with the
Outokumpu Oyj`s option rights 1998. The shares will be
traded on the Helsinki Exchanges as old shares as of 13
January 2004.

Identifiers of Outokumpu Oyj`s share:


Trading code:            OUT1V
ISIN code:               FI0009002422
Number of shares:        178 576 360


HELSINKI EXCHANGES
Mikko Timonen

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