Ruukki Group Oyj - Company Announcement

RUUKKI GROUP PLC COMPLETED THE CLOSING OF ITS CHROME BUSINESS ACQUISITION

Ruukki Group Plc, Stock Exchange Release, 30 October 2008 at 08:58 a.m.         

The Extraordinary General Meeting of Ruukki Group Plc decided in accordance with
the Board's proposal on Tuesday 28 October 2008 to carry out acquisition into
chrome ore and ferrochrome businesses. The Company has on 28 October 2008
published a stock exchange release related to the resolutions by the
Extraordinary General Meeting, and furthermore, on 10 October 2008 announced
all the Board's proposals. 

The Board of Directors has, based on the resolution by the Extraordinary General
Meeting referred above, completed the closing of the acquisition, and           
consequently Ruukki Group Plc has paid EUR 80 million in cash to Kermas Limited 
as purchase consideration. Hence, Ruukki Group owns all the shares in the       
Maltese RCS Limited and approximately 98.75 % of the shares in the Turkish Türk 
Maadin Sirketi A.S.                                                             

Moreover, in accordance with the resolution by the Ruukki Group Plc's           
Extraordinary General Meeting, and as method of payment for potential future    
earn-out consideration, Kermas Limited has been granted altogether 73,170,731   
option rights, whose strike price is EUR 2.30 per share (with dividend          
adjustment) and whose exercise is tied to the net income of the acquisition     
target during the financial years 2009 - 2013.                                  

The business acquired will form a segment to be reported separately, and it will
have effect from November on the consolidated group revenue, results, financial 
position and cash flows.                                                        

RUUKKI GROUP PLC                                                                
Alwyn Smit                                                                      
Chairman of the Board and CEO                                                   

Ruukki Group Plc's shares are listed on OMX Nordic Exchange Helsinki in which   
the shares of the Company are traded in the mid cap segment, in the industrials 
sector.                                                                         

For additional information, please contact:                                     

Alwyn Smit                                                                      
Chairman of the Board and CEO                                                   
Ruukki Group Plc                                                                
Telephone +41 7960 19094                                                        
www.ruukkigroup.fi                                                              

This stock exchange release is based on a translation into English of a document
written in Finnish. In case of any discrepancies, inconsistencies or            
inaccuracies, the Finnish version of the release shall prevail.