Outokumpu Oyj - Company Announcement

Outokumpu joins Fennovoima to build a new nuclear power plant in Finland - reliable stable-priced electricity for the Tornio Works

Outokumpu Oyj
Stock Exchange Release June 6, 2007 at 8.00 am


A consortium of industrial and energy companies announced today a
project aiming at constructing a new nuclear power plant in Finland.
The group consists of Outokumpu, Boliden, Rauman Energia, Katternö
and E.ON. To implement the project, a new Finnish power company
Fennovoima Oy will be established.

Fennovoima aims to construct a new 1 000 - 1 800 MW nuclear power
plant for the increasing need for electricity in Finland. The
operation of the plant is aimed to start between 2016 and 2018.
Fennovoima will produce electricity for its owners' needs at
production cost. Each owner will get the share of capacity
proportional to its ownership in the company. One-third of the
capacity is reserved for Finnish enterprises of industry, merchandise
and services, one-third for regional and local energy companies, and
one-third for E.ON Suomi.

Approximately half of the capacity will be offered to companies other
than the existing Fennovoima partners. Many Finnish enterprises have
already shown their interest in acquiring own nuclear power
generation capacity. The consortium has started discussions with
companies needing long-term procurement of stable-priced power for
their own production and customers in Finland.

Energy is a major cost factor in producing stainless steel. In
Outokumpu's case this is even more so as the Group has its own
ferrochrome smelter as part of the integrated stainless steel
production operation in Tornio, Finland. Although having ferrochrome
production integrated into stainless steel production is already a
cost advantage, that coupled with reliable stable-priced electricity
supply in the future will be an additional competitive advantage.
Outokumpu's Tornio Works currently consumes some 2.1TWh of
electricity per annum.

Says Outokumpu's CEO Juha Rantanen; "By participating in Fennovoima,
Outokumpu aims to secure a significant portion of its electricity
needs in the years to come. In investing in our own energy production
we can have a reliable electricity supply at production cost. Our aim
is to have up to 150MW of the new nuclear power plant's capacity.
This translates into some 1.2TWh of electrical energy per annum which
is more than half of what the Tornio Works currently requires."

For further details on Fennovoima and the planned new nuclear power
plant project, please see the attached Press Announcement released by
the Fennovoima Consortium.

For further information, please contact:

Mikko Rintamäki, VP - Energy, Outokumpu Oyj, mobile: +358 40 558 2289
Eero Mustala, SVP - Corporate Communications, Outokumpu Oyj, mobile:
+358 40 504 5146
OUTOKUMPU OYJ
Corporate Management

Eero Mustala
ATTACHMENT:  Fennovoima Press Release and invitation to Press
Conference



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FENNOVOIMA    INVITATION AND PRESS RELEASE
                            June 6, 2007 at 8:00 am


INVITATION TO A PRESS CONFERENCE ON JUNE 6, 2007 AT 11:00 AM
A press conference on Fennovoima will be held on Wednesday, June 6,
2007 at 11:00 am at Hotel Marski, Conference Room Carl,
Mannerheimintie 10, Helsinki.

FENNOVOIMA TO CONSTRUCT A NEW NUCLEAR POWER PLANT IN FINLAND
A consortium of industrial and energy companies announced today a
project aiming at constructing a new nuclear power plant in Finland.
The group consists of Outokumpu, Boliden, Rauman Energia, Katternö
and E.ON. To implement the project, a new Finnish power company
Fennovoima Oy will be established.

Fennovoima aims to construct a new 1,000-1,800 MW nuclear power plant
for the increasing need for electricity in Finland. The operation of
the plant is aimed to start between 2016 and 2018. Fennovoima will
produce electricity for its owners' needs at production cost. Each
owner will get the share of capacity proportional to its ownership in
the company. One-third of the capacity is reserved for Finnish
enterprises of industry, merchandise and services, one-third for
regional and local energy companies, and one-third for E.ON Suomi.

Approximately half of the capacity will be offered to companies other
than the existing Fennovoima partners. Many Finnish enterprises have
already shown their interest in acquiring own nuclear power
generation capacity. The consortium has started discussions with
companies needing long-term procurement of stable-priced power for
their own production and customers in Finland.

- The power generation of Fennovoima is important both for
participating companies and Finland. The new nuclear power plant will
expand CO2-free power generation in Finland and at the same time
decrease dependence on electricity imports. In addition, competition
in power production will increase, which is good for all users of
electricity and the entire national economy, stated Juha Rantanen,
CEO of Outokumpu.

Fennovoima will immediately start studies on the construction of the
new nuclear power plant. Apart from the site, these include safety,
technological, and nuclear waste management issues. Suitable site
locations are identified in various parts of Finland. After suitable
sites have - together with the respective municipalities - been
guaranteed, Fennovoima will complete the Environmental Impact
Assessments. In these studies Fennovoima will utilize the extensive
experience of E.ON, the second largest nuclear power generator in
Europe.

The demand for electricity in Finland will increase annually by 1 to
2 percent. In addition, old coal and oil-fired power plants will -
because of environmental reasons - be taken out of use. At the same
time, there has been a common desire to decrease the dependency on
power imports. According to estimates, there will be a need for at
least 4,000 MW of new base-load generation capacity by 2020 in
Finland.

Fighting against the negative impacts of climate change is a
fundamental task of our time. Along with enhanced energy conservation
and the increased use of renewable energy sources, carbon dioxide
free nuclear energy is also needed.

+++
Further information:
Fennovoima, Project Director Mikko Rintamäki, phone +358 40 558 2289
Outokumpu Oyj, SVP - Corporate Communications Eero Mustala, phone
+358 40 504 5146
Boliden AB, Deputy CEO Tom Niemi, phone +358 400 264 582
Rauman Energia Oy, Managing Director Tapio Saarenpää, phone +358
50 568 1445
Oy Katternö Ab, Managing Director Stefan Storholm, phone +358 44 781
5330
E.ON Suomi Oy, Managing Director Matti Manninen, phone +358 50 314
1520


Outokumpu is an international stainless steel company. Outokumpu
operates in some 30 countries and employs more than 8,000 people. In
2006, the Group's sales were EUR 6.2 billion. The Group's
headquarters is located in Espoo, Finland. www.outokumpu.com.

Boliden is one of the leading mining and smelting companies in Europe
with operations in Sweden, Finland, Norway, Ireland and the
Netherlands. Boliden's main products are copper, zinc, lead, gold,
and silver. Boliden employs approximately 4,500 people with a
turnover of approximately EUR 3.8 billion annually. In Finland
Boliden's zinc operations are located in Kokkola and copper
operations in Harjavalta near to Pori. The Group's headquarters is
located in Stockholm, Sweden. www.boliden.com

Rauman Energia is a middle-size and city-owned energy utility. Its
main products are electricity, district heat and related services.
The company produces and distributes electricity and heat to its
customers in the Satakunta province and sells electricity to
customers all over Finland. The company's operations are located in
Rauma, Finland. www.raumanenergia.fi

Katternö Group is a middle-size and municipality-owned energy
utility. The operative area covers coastal parts of the Ostrobotnia
region. The Group produces and distributes electricity and produces
and distributes district heat in the region. It sells heat in the own
region and electricity all over Finland. The Group's headquarters is
located in Pietarsaari, Finland. www.katterno.fi

E.ON Suomi offers electricity to customers throughout Finland. The
E.ON Group is one of the world's largest investor-owned energy
service providers with 2006 sales of just under EUR 68 billion. E.ON
focuses on its core power and gas business in these target markets:
Central Europe, the United Kingdom, the Nordic countries, and the
Midwestern United States. Headquarters are located in Düsseldorf,
Germany. www.eon.fi

Bifogade filer:

Outokumpu_release_060607

Fennovoima_release_060607