Outokumpu Oyj - Company Announcement

Outokumpu Oyj stock options 2003C

Stock Exchange Announcement
June 3, 2008 at 9.45


Annulment of the unallocated 2003C stock options

In 2006 and 2007 the 2003C stock options were allocated to Outokumpu
Group's key personnel according to set performance criteria. At the
moment a total of 102 500 stock options are held by nine key persons.
The number of unallocated stock options is 1 597 500. Outokumpu Oyj
does not intend to allocate these unallocated stock options, nor have
them used for share subscription. The Board of Directors of Outokumpu
Oyj has on June 2, 2008 decided that these 1 597 500 unallocated
stock options will be annulled.

The share subscription period with the stock options 2003C is
September 1, 2008 - March 1, 2011. The Board of Directors of
Outokumpu Oyj has decided not to list the stock options 2003C.

 Listing timetable of the stock options 2003

Increases in share capital to the trade register and the listing of
shares subscribed with 2003 A, B and C stock options on the OMX
Nordic Exchange Helsinki will be made according to the following
timetable during 2008 and in 2009:


Subscriptions/payments made on or before
8.9.2008
24.10.2008
18.12.2008
31.12.2008
9.2.2009
2.3.2009
28.4.2009
4.6.2009
7.8.2009
21.9.2009
29.10.2009
17.12.2009
31.12.2009

Estimated trade register day
19.9.2008
3.11.2008
31.12.2008
12.1.2009
18.2.2009
11.3.2009
11.5.2009
16.6.2009
18.8.2009
1.10.2009
9.11.2009
31.12.2009
13.1.2010

Estimated date of listing on OMX Nordic Exchange Helsinki
22.9.2008
4.11.2008
2.1.2009
13.1.2009
19.2.2009
12.3.2009
12.5.2009
17.6.2009
19.8.2009
2.10.2009
10.11.2009
4.1.2010
14.1.2010

PCA Corporate Finace Oy, Eteläranta 12, Helsinki, Finland acts as
subscription agent.

The terms and conditions of the stock options 2003 have originally
been published on April 3, 2003. More information on the stock
options is also available in Outokumpu's annual report 2007.

OUTOKUMPU OYJ
Corporate Management

Ingela Ulfves
Vice President - Investor Relations and Financial Communications
tel. + 358 9 421 2438, mobile +358 40 515 1531, fax +358 9 421 2125
e-mail: ingela.ulfves@outokumpu.com
www.outokumpu.com

Attachments:

Stock_options_2003C