Rautaruukki Oyj Stock Exchange release 6 Feb 2008 RAUTARUUKKI CORPORATION: NOTICE OF ANNUAL GENERAL MEETING The shareholders of Rautaruukki Corporation are hereby invited to attend the Annual General Meeting to be held on Wednesday 2 April 2008 at 10am in the Congress Wing of the Helsinki Fair Centre, Messuaukio 1, 00520 Helsinki. Payment of dividend The Board of Directors proposes to the Annual General Meeting that on the basis of the adopted balance sheet for 2007, a dividend be paid of EUR 1.70 per share and an extra dividend of EUR 0.30 per share, making a total dividend of EUR 2.00 per share. The dividend will be paid to shareholders entered as a shareholder in the company's shareholder register maintained by the Finnish Central Securities Depository Ltd at the record date. In accordance with the Board of Directors' decision, the record date is 7 April 2008. The Board of Directors proposes to the Annual General Meeting that the dividend be paid on 16 April 2008. Business to be transacted at the meeting: 1. The business to be transacted at the Annual General Meeting in accordance with Article 12 of the company's Articles of Association and Chapter 5, Section 3 of the Limited Liability Companies Act 2. Board of Directors' proposal to authorise the Board to acquire the company's own shares The Board of Directors proposes that the Annual General Meeting authorises the Board to resolve to acquire a maximum of 12,000,000 of the company's own shares, by directed acquisition using the company's unrestricted equity, at the prevailing market price on the OMX Nordic Exchange Helsinki. The shares are to be acquired for the purpose of developing the company's capital structure and/or for use as consideration in potential acquisitions or in other business arrangements of the company, to finance capital expenditure or to execute the company's share-based incentive schemes. The company may retain, cancel or transfer shares acquired for these purposes. The Board of Directors proposes that the proposed authorisation replace the authorisation to acquire 12,000,000 shares granted by the Annual General Meeting of 20 March 2007 and which now expires. The authorisation is valid for 18 months from the date of the decision of Annual General Meeting. 3. Proposal by shareholder Mr George Jauhiainen to abolish the Supervisory Board 4. Proposal by the Ownership Steering Department of the Prime Minister's Office to establish a shareholders' Nomination Committee The Ownership Steering Department, representing the Finnish State as shareholder, proposes that the Annual General Meeting 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 Chairman of the Board of Directors is elected to the Committee as an expert member together with a representative from each of the three largest shareholders. The right to appoint members to the Nomination Committee to represent shareholders is vested in the three shareholders having the largest share of votes of the votes afforded by all the company's shares as at 3 November preceding the Annual General Meeting. The Nomination Committee will present its proposal to the company's Board of Directors by no later than 2 February preceding the Annual General Meeting. 5. Composition of the Board of Directors The shareholders' Nomination Committee of Rautaruukki proposes to the Annual General Meeting that six members be elected to the Board of Directors in addition to its chairman and deputy chairman. The Committee proposes that Jukka Viinanen, Reino Hanhinen, Maarit Aarni-Sirviö, Jukka Härmälä, Christer Granskog, Pirkko Juntti, Kalle J. Korhonen and Liisa Leino all be re-elected for a further term of office lasting one year from the 2008 Annual General Meeting to the close of the 2009 Annual General Meeting. The Nomination Committee further proposes that Mr Jukka Viinanen and Mr Reino Hanhinen be re-elected as chairman and deputy chairman of the Board of Directors respectively. The Committee proposes that the chairman of the Board of Directors be paid a monthly fee of EUR 5,600, the deputy chairman a monthly fee of EUR 3,500 and members a monthly fee of EUR 2,700, together with an attendance fee of EUR 600 for Board of Directors' meetings and Board of Directors' committee meetings. 6. Election of the auditor Based on the recommendation of the Audit Committee, the Board of Directors proposes that the audit firm of KPMG Oy Ab, with KHT Pekka Pajamo as the principal auditor, be elected as the company's auditor for a term of office lasting until the close of the 2009 Annual General Meeting. Inspection of documents Copies of the financial statements and the proposals by the Board of Directors and shareholders will be available for inspection from Thursday 20 March 2008 at Rautaruukki Corporation's headquarters at Suolakivenkatu 1, 00810 Helsinki. The annual report and other documents referred to may also be viewed on Rautaruukki's website at www.ruukki.com. Copies of the documents will be sent to shareholders on request and are also available at the Annual General Meeting. Right to attend and vote at the meeting To attend the meeting, a shareholder must 1. be entered in the company's shareholder register maintained by the Finnish Central Securities Depository Ltd by Thursday 20 March 2008, and 2. have notified of his or her intention to attend the meeting by 4pm Finnish time on Thursday 27 March 2008. A shareholder in whose name the shares are held is automatically on the company's shareholder register. Nominee-registered shareholders can be temporarily entered on the company's shareholder register, provided they do so by 20 March 2008. Notification to attend the meeting Shareholders can notify of their intention to attend the meeting either - online at www.ruukki.com, - by email to yhtiokokous@ruukki.com, - by letter to Rautaruukki Oyj, Osakerekisteri, PO Box 138, FI-00811 Helsinki - by fax to +358 20 592 9104 or - by telephoning +358 10 804 430 between 9am and 4pm, Monday to Friday. Notification online, by mail, telefax or email must be received by 4pm Finnish time on Thursday 27 March 2008. Letters of proxy Any letters of proxy to exercise a shareholders right to vote at the meeting are requested to be sent to the company's shareholder register before the close of the notification deadline. Instructions to shareholders attending the meeting The reception for shareholders attending the meeting starts at 9.30am. Helsinki, 5 February 2008 RAUTARUUKKI CORPORATION Board of Directors APPENDIX: BOARD OF DIRECTORS' PROPOSAL TO AUTHORISE THE BOARD TO ACQUIRE THE COMPANY'S OWN SHARES The Board of Directors is to propose to Rautaruukki Corporation's Annual General Meeting convening on 2 April 2008, that the Board be authorised to resolve to acquire the company's own shares (”Acquisition Authority”) subject to the following terms and conditions: Maximum number of shares to be acquired The authorisation entitles the Board of Directors to resolve to acquire a maximum of 12,000,000 of the company's own shares. Under an earlier authorisation, the company holds 1,476,937 shares. These, together with the number of shares to be acquired pursuant to the proposed Acquisition Authority, would result in the company holding 9.6 per cent of the shares issued. Directed acquisition and consideration to be paid for the shares The own shares shall be acquired, using the company's unrestricted equity, at the market price at the time of purchase in public trading on the OMX Nordic Exchange (Helsinki) in a ratio not corresponding to the shareholders' holdings. The own shares shall be acquired and paid for in compliance with the valid rules of the OMX Nordic Exchange (Helsinki) and the Finnish Central Securities Depository. Reason for acquisition The shares are to be acquired for the purpose of developing the company's capital structure and/or for use as consideration in potential acquisitions or in other business arrangements of the company, to finance capital expenditure or to execute the company's share-based incentive schemes. The company may retain, cancel or transfer shares acquired for these purposes. Other terms and conditions and validity The Board of Directors proposes that the proposed authorisation replace the authorisation to acquire 12,000,000 shares granted by the Annual General Meeting of 20 March 2007 and which now expires. The Board of Directors decides on other matters relating to the acquisition of own shares. The Acquisition Authority is valid for 18 months from the date of the decision of Annual General Meeting. Helsinki, 5 February 2008 RAUTARUUKKI CORPORATION Board of Directors 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 countries and employs 14,600 people. Net sales in 2007 totalled EUR 3.9 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