ADMINISTRATIVE HANDLING OF RUUKKI GROUP'S RUSSIAN INVESTMENTS CONTINUED


The Russian subsidiary of Ruukki Group Plc, OOO Ruukki Invest Oy Kostroma, has  
pending priority investor status applications in process. The handling of these 
applications continues within the Kostroma region's administration, and it is   
expected that the decisions shall be made within one month.                     
                                                                                
Concerning the investments, the group has, as announced during summer 2007,     
investment agreements in force with the Kostroma region for a sawmill and for a 
pulp mill investments.                                                          

In the investment agreements, Ruukki Group has committed to construct a sawmill 
and a pulp mill in the Kostroma region. The Kostroma region has on its part     
committed to give Ruukki Group altogether 6.0 million cubic meters of forest    
cutting rights by 49-year lease agreements.                                     

In November 2007 the company made two applications to the Kostroma region for   
priority investor status as stipulated by the new forest legislation in the     
Russian Federation and as instructed by the federal decrees confirmed in summer 
2007. It was predicted that the handling of the applications will last          
approximately two months.                                                       

The handling of the applications is actively done with the Kostroma region's    
administration. It is expected that the decisions related to these priority     
investor status applications will be finalised within the next month.           
                                                                                
Ruukki Group and its Russian subsidiary have signed delivery agreements for     
sawmill and harvesting machinery so that the sawmill can be operational from    
investor's point of view by the end of this year. The bidding process for the   
main contractor for the sawmill site ground works and construction works is in  
finalisation phase.                                                             
                                                                                

For additional information, please contact:                                     

Matti Vikkula                                                                   
CEO                                                                             
Ruukki Group Plc                                                                
Tel. +358 45 6700 606                                                           
www.ruukkigroup.fi