Ruukki Group Oyj - Company Announcement

THE PROPOSAL OF THE BOARD OF DIRECTORS TO THE EXTRAORDINARY GENERAL MEETING FOR AUTHORISING THE BOARD OF DIRECTORS TO DECIDE ON THE ACQUIRING OF OWN SHARES

Ruukki Group Plc, Stock Exchange Release, 10 October 2008 at 12:29 p.m.         

The Board of Directors of Ruukki Group Plc proposes to the Extraordinary General
Meeting that the Board of Directors would be authorized to decide on the        
acquiring of own shares.                                                        

By virtue of the authorization concerning the acquiring of own shares a maximum 
of 19,000,000 own shares could be acquired with the funds from the company's    
unrestricted shareholders' equity. The compensation paid for acquired shares    
will be determined on the grounds of the trading rate determined to the         
company's share in the OMX Nordic Exchange Helsinki on the day of the           
acquisition.                                                                    

The shares will be acquired in a public trade arranged by the OMX Nordic        
Exchange Helsinki to the market value of the acquisition moment formed in this  
trade. Because the shares are acquired in a public trade the acquisition doesn't
correspond to the ownership relations.                                          

The shares shall be acquired according to the rules of OMX Nordic Exchange      
Helsinki that concern acquiring of own shares and otherwise according to the    
regulation related to acquiring own shares.                                     

The Board of Directors proposes that the authorization concerning the           
acquisition of own shares would among other things be used in developing the    
company's capital structure, in financing and executing corporate acquisitions  
and other arrangements, in executing the company's share-based incentive systems
or otherwise in being transferred or cancelled. The acquisition of shares       
reduces the company's distributable non-restricted shareholders' equity.        

The Board of Directors proposes that the authorization is valid two years as    
from the decision of the Extraordinary General Meeting.                    

ESPOO ON OCTOBER 10, 2008                                                     

RUUKKI GROUP PLC                                                                

BOARD OF DIRECTORS                                                              

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 +358 50 442 1663 / +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.