Rautaruukki Oyj Stock exchange release 20 December 2007 at 15.15 BOLIDEN INITIATED ARBITRATION PROCEEDINGS AGAINST RAUTARUUKKI Boliden Commercial AB of Sweden has initiated arbitration proceedings against Rautaruukki Corporation. Boliden is claiming a price differential payment of around USD 11 million from Rautaruukki. Boliden has supplied Rautaruukki with the zinc raw material it needs for the past 30 years. The parties have a long-term contract, which is valid until the end of 2008. The dispute concerns the supplements included in the prices of zinc bought by Rautaruukki. As Rautaruukki understands it, the claim for extra pay-ment is unfounded. The arbitral tribunal convenes in Finland and the dispute is subject to the law of Finland. Further information is available from Olli Huuskonen, General Counsel, tel +358 20 592 911 Rautaruukki Corporation Anne Pirilä SVP, Corporate Communications and Investor Relations 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 24 coun-tries and employs 14,700 people. Net sales in 2006 totalled EUR 3.7 billion. The company's share is quoted on the OMX Nordic Exchange Helsinki (Rautaruukki Oyj: RTRKS). The Corporation has used the marketing name Ruukki since 2004. www.ruukki.com DISTRIBUTION OMX Nordic Exchange Helsinki Main media www.ruukki.com