Rautaruukki Oyj Stock Exchange Release 20 March 2007 RESOLUTIONS OF RAUTARUUKKI'S ANNUAL GENERAL MEETING Rautaruukki Corporation's Annual General Meeting (AGM) approved today the financial statements and discharged the members of the Board of Directors, Supervisory Board and the President & CEO from liability for the 2006 financial year. The Meeting decided that a dividend of EUR 1.50 per share and an extra dividend of EUR 0.50 per share, making a total dividend of EUR 2.00 per share, will be distributed for 2006. The dividend will be paid on 4 April 2007 to shareholders registered at the record date, 23 March 2007, in the share register kept by the Finnish Central Securities Depository Ltd. The AGM approved the reappointment of Mr Jukka Viinanen, Ms Maarit Aarni-Sirviö, Mr Christer Granskog, Ms Pirkko Juntti, Mr Kalle J. Korhonen and Mr Reino Hanhinen as members of the Board of Directors for a further term of office lasting one year. Moreover, Mr Jukka Härmälä, President & CEO of Stora Enso Corporation, and Ms Liisa Leino, chairwoman of the Board of Leinovalu Oy, were appointed as new members of the Board. Mr Jukka Viinanen was reappointed as chairman of the Board of Directors and Mr Reino Hanhinen was appointed deputy chairman. The AGM decided to reject the proposal by shareholder Mr George Jauhiainen to abolish the Supervisory Board. The AGM reappointed Mr Turo Bergman as chairman and Mr Jouko Skinnari as deputy chairman of the Supervisory Board for a further term of office lasting one year. Moreover, Mr Heikki Allonen, Ms Inkeri Kerola, Ms Miapetra Kumpula-Natri, Mr Petri Neittaanmäki, Mr Markku Tynkkynen, Mr Tapani Tölli and Mr Lasse Virén were all reapppointed to the Supervisory Board. Public accountants Ernst & Young Oy, with Mr Pekka Luoma Authorized Public Accountant as the principal auditor, were reappointed as the company's auditor. The Annual General Meeting authorised the Board of Directors to resolve to acquire a maximum of 12,000,000 Rautaruukki series K shares (8.57 per cent of the total number of shares). The shares will be acquired by directed acquisition using the company's unrestricted equity at the prevailing market price on the Helsinki Stock Exchange. The shares will be acquired to develop the company's capital structure, to finance and carry out potential acquisitions or other arrangements, as a part of the incentive schemes of the company or its subsidiaries, to be held by the company or to be otherwise disposed of or cancelled. The Board of Directors will decide on other conditions, if any, for the acquisition of treasury shares. The authorisation is valid for eighteen months from the decision of the Annual General Meeting. The Annual General Meeting authorised the Board of Directors to resolve to dispose of a maximum of 13,785,381 Rautaruukki series K shares held by the company either against payment or without charge. The shares may be transferred to shareholders of the company on a pro-rata basis to their shareholding in the company shares or by means of a directed issue if there is an important financial reason for the company to do so, such as to develop the company's capital structure, to finance or carry out acquisitions or other arrangements or to use the shares as a part of the incentive schemes of the company or its subsidiaries. The Board of Directors will decide on other conditions, if any, for the disposal of treasury shares. The authorisation is valid until the end of the Annual General Meeting to be held in 2009. The Annual General Meeting decided to approve the proposal by the Board of Directors to fully amend the company's current Articles of Association. The company's business was expanded upon to better reflect the company's current activities. The provisions on the company's minimum and maximum share capital and the number of shares were removed. The division of the company's shares into Series K and Series A shares was discontinued and the company has only one type of share. The sections on the quorum of the Board of Directors and the Supervisory Board, the Boards' term of office and the procedure related to the minutes of their meetings were removed. It was decided that the Supervisory Board is tasked with supervising the administration of the company, which is the responsibility of the Board of Directors and President & CEO, and to give its statement to the Annual General Meeting of Shareholders on the financial statements, annual report and audit report. The duties of the Board of Directors and the President & CEO were specified in accordance with the provisions of the new Companies Act regarding their general authority. Article 21 concerning the obligation to redeem shares was removed. Furthermore, the Articles of Association were amended due to the fact that certain provisions were also given in the new Companies Act and to bring the wording into line with the terminology used in the new act. The Annual General Meeting decided to establish a Nomination Committee to prepare proposals for the following Annual General Meeting regarding the composition of the Board of Directors and directors' remuneration. The minutes of the Annual General Meeting will be available for inspection by shareholders at the company's head office by no later than 3 April 2007. FURTHER INFORMATION IS AVAILABLE FROM Sakari Tamminen, President & CEO, tel. +358 20 592 9075 Tiina Bäckman, General Counsel, tel. +358 20 592 9068 Rautaruukki Corporation Taina Kyllönen VP, Corporate Communications Rautaruukki supplies metal-based components, systems and integrated systems to the construction and mechanical engineering industries. The company has a wide selection of metal products and services. Rautaruukki has operations in 23 countries and employs 13,000 people. Net sales in 2006 totalled EUR 3.7 billion. The company's share is quoted on the Helsinki Exchanges (Rautaruukki Oyj: RTRKS). The Corporation has used the marketing name Ruukki since 2004. www.ruukki.com DISTRIBUTION Helsinki Stock Exchange Main media www.ruukki.com