Outokumpu Oyj - Major shareholder announcements

The State of Finland receives an exemption related to its share ownership in Outokumpu

STOCK EXCHANGE ANNOUNCEMENT
October 21, 2008 at 4.30 p.m.

The Finnish Financial Supervision Authority has on October 17, 2008
granted an exception to the State of Finland and Solidium Oy not to
make a public tender offer for Outokumpu's shares and share-based
securities. The exemption is related to the State's intention to
transfer all of its shares in Outokumpu to Solidium Oy, in which it
is the sole shareholder.

Without the exemption, Solidium Oy would under the Finnish Securities
Markets Act have an obligation to launch a public tender offer for
all of Outokumpu's shares and share-based securities. According to
the Finnish Financial Supervision Authority the control related to
the shares does not in actual fact transfer as the State of Finland
is the sole shareholder of Solidium Oy. The exemption will take
effect following the appeal period and handling of potential
appeals.

The State of Finland holds 31.1% of Outokumpu's shares and voting
power.

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:

ENG Finnish State - release.pdf