Ruukki Group Oyj - Company Announcement

PROFIT WARNING: RUUKKI GROUP CHANGES FORM AND RESPECIFIES SUBSTANCE OF FINANCIAL YEAR 2008 GUIDANCE

Ruukki Group Plc, Stock Exchange Release, 10 December 2008 at 9:45 a.m.         

PROFIT WARNING: RUUKKI GROUP CHANGES FORM AND RESPECIFIES SUBSTANCE OF FINANCIAL
YEAR 2008 GUIDANCE                                                              

The Board of Directors of Ruukki Group has decided to change the form of        
financial year 2008 guidance so that revenue and EBITDA are presented for the   
total Group, including continuing and already or potentially discontinued       
operations, and separately for the Wood Processing Businesses and Minerals      
Business. EBITDA is derived from operating profit by taking EBIT (earnings      
before interest and taxes) as the base on which depreciations, amortizations and
impairment and well as share in associated companies' profit are added. Ruukki  
Group Plc's Board has decided to use EBITDA in the profit guidance since the    
Board finds it to be relevant and comparable indicator of operative             
profitability of various businesses. Furthermore, based on EBITDA it is possible
to evaluate how operative cash flows are generated. According to the Board,     
presenting the profit guidance for the two main business areas best describes   
the Group's current business structure and operations.                          

In August 2008 Ruukki Group has in the Q2 interim report announced that the 2008
revenue for continuing operations is close to EUR 250 million and that the      
corresponding EBIT is slightly negative.                                        

In November 2008 in the Q3 interim report the Company has announced that Group's
Wood Processing Businesses, including also the Group headquarters and Russian   
Investment Projects, will generate revenue of about EUR 60 million and an EBIT  
of EUR 0.5 - 2.0 million during the fourth quarter. Moreover, in November it was
stated that the new Chrome Ore and Ferrochrome Business will, according to      
subsidiaries' local accounting principles, generate a revenue of about EUR 20   
million and EBITDA of approximately EUR 7 million during November - December    
2008.                                                                           

Due to deterioration of the market demand, the outlook for the Minerals Business
is weaker than estimated in the Q3 interim report published in the beginning of 
November.  Therefore the Board has decided to change the revenue and EBITDA     
guidance for the Minerals Business.                                             

In order to erase any potential misconception, and on the other hand, based on  
changes in market conditions, Ruukki Group Plc's Board has decided to respecify 
the guidance for financial year 2008 so that as calculated in accordance with   
IFRS principles the indicators are as follows:                                  

--------------------------------------------------------------------------------
| EUR million,    |   Wood Processing *  |         Minerals |            Group |
| unaudited       |           1-12/2008  |       11-12/2008 |        1-12/2008 |
|                 |          (12 months) |       (2 months) |      (12 months) |
--------------------------------------------------------------------------------
| Revenue         |                  220 |               15 |              245 |
--------------------------------------------------------------------------------
| EBITDA          |                   13 |                5 |               20 |
--------------------------------------------------------------------------------

* Wood Processing Businesses include Sawmill Business, Furniture Business and   
House Building Business, excluding Group headquarters and Russian Investment    
Projects                                                                        

In financial year 2009 Ruukki Group Plc will apply the same presentation format 
as described above, so the Group publishes full financial year IFRS-based       
revenue and EBITDA guidance for the Group and separately for Wood Processing    
Businesses and Minerals Business.                                               

RUUKKI GROUP PLC                                                                

Alwyn Smit                                                                      
Chairman of the Board and CEO                                                   

Ruukki Group specialises in industrial refining of certain natural resources.   
The Group has two focus areas: Wood Processing and Minerals. Ruukki Group Plc's 
shares are listed on Nasdaq OMX 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.