SHARES SUBSCRIBED WITH THE OUTOKUMPU OYJ 2003A STOCK OPTIONS AND THE INCREASE IN SHARE CAPITAL


OUTOKUMPU OYJ  STOCK EXCHANGE ANNOUNCEMENT JANUARY 11, 2007 AT 11.00 am


SHARES SUBSCRIBED WITH THE OUTOKUMPU OYJ 2003A STOCK OPTIONS AND THE
INCREASE IN SHARE CAPITAL

Between October 14 and December 29, 2006 a total of 33 323 shares
have been subscribed for with the 2003A stock options
(FI0009629133). As a result of the share subscriptions the share
capital of Outokumpu Oyj has increased by EUR 56 649.10.

The increase in share capital has been entered into the Finnish
trade register on January 11, 2007 and the subscribed shares will be
listed on the Helsinki Stock Exchange and trading will commence
along with the old shares as of January 12, 2007.

The shares and share capital of Outokumpu Oyj following the increase
in share capital:

Trading code:       OUT1V
ISIN code:          FI0009002422
Number of shares:   181 283 878
Share capital:      EUR 308 182 592.60

The next filing of increase in share capital into the trade register
will take place on or about March 15, 2007 and listing of shares on
the Helsinki Stock Exchange on or about March 16, 2007.


OUTOKUMPU OYJ
Corporate Management

Ingela Ulfves
Vice President - Investor Relations
tel. (09) 421 2438, mobile 040 515 1531, fax (09) 421 2125
e-mail: ingela.ulfves@outokumpu.com
www.outokumpu.com