TWO OUTOKUMPU EXECUTIVE COMMITTEE MEMBER
OUTOKUMPU OYJ STOCK EXCHANGE RELEASE August 31, 2004 at 11.30 am
TWO OUTOKUMPU EXECUTIVE COMMITTEE MEMBERS TO RETIRE IN EARLY 2005 Outokumpus Board of Directors has today approved two notices of retirement by Executive Committee members: Deputy CEO Mr. Risto Virrankoski and Executive Vice President - Copper Dr. Kalevi Nikkilä have decided to retire in early 2005. Deputy CEO Risto Virrankoski (b. 1946) has decided to retire as of February 11, 2005 when he turns 59. He has been employed by the Outokumpu Group for 35 years holding various management positions at Corporate Management. Mr. Virrankoski will continue as a Chairman of the Board of Directors of new Boliden in which Outokumpu has a 49% ownership interest. Dr. Kalevi Nikkilä (b. 1945), Executive Vice President Copper, has been employed by the Outokumpu Group since 1991. Dr. Nikkilä will retire as of March 7, 2005 at the age of 60. A new President for the Copper business area will be appointed in the near future. CEO Jyrki Juusela says: "Risto Virrankoski has played a key role in crafting Outokumpu what it is today. Outokumpu has grown from a domestic mining and metals company with net sales of EUR 200 million to a globally operating metals and technology Group with net sales of over EUR 6 billion. I have every reason to thank Risto, my close colleague, for his valuable insight and contribution for the success of Outokumpu. Kalevi Nikkilä has also done excellent work in managing our copper business in tough operating environment towards more value-added products and services". OUTOKUMPU OYJ Corporate Management Johanna Sintonen Vice President - Investor Relations tel. +358 9 421 2438, mobile +358 40 530 0778, fax +358 9 421 2125 e-mail: johanna.sintonen@outokumpu.com