Outokumpu Oyj - Company Announcement

Possible strike by the Union of Salaried Employees threatens to temperarily halt production at Outokumpu s Tornio Works

Stock Exchange Release
October 17, 2007 at 9.00 a.m.

On October 8, 2007, in the process of collective bargaining between
the Union of Salaried Employees (TU) and the employer association
Technology Industries, TU gave notice on industrial action targeted
at seven Finnish metals industry companies, including Outokumpu's
Tornio Works.

Last night, the National Conciliator Juhani Salonius informed the he
has no grounds to make a proposal for a settlement. Therefore, as new
negotiations have not been set, the industrial action is likely to
start on October 22, 2007 at 11.00 am.

Should the industrial action start it would mean an almost immediate
cessation of production of stainless steel at Outokumpu's Tornio
Works. Some 400 salaried employees in Tornio would be involved,
mainly at the stainless steel mill. The Kemi chromite mine and the
Tornio ferrochrome smelter are not affected.

The stainless steel finished products capacity of Tornio Works is
some 1.2 million tons per year or some 23 000 tons per week. In terms
of weekly sales this translates to some EUR 75 million.

For further information, please contact:

Eero Mustala, SVP - Corporate Communications, Outokumpu Oyj
Tel. +358 9 421 2435, mobile +358 40 504 5146

Attachments:

Outokumpu_TUstrike_171007