Insurance compensation to SSAB confirmed

Insurance compensation to SSAB confirmed

The Swedish Supreme Court has rejected Zürich's appeal regarding insurance
compensation to SSAB. The judgement delivered by Svea Court of Appeal is thereby
confirmed.

As earlier announced, on January 25, 2008, Svea Court of Appeal delivered a
judgement according to which the insurance company, Zürich Insurance, Sweden
Branch, was ordered to pay SSAB's wholly owned subsidiary, SSAB Tunnplåt AB,
additional insurance compensation of approx. SEK 161 million as well as interest
and compensation for litigation costs relating to a blast furnace breakdown
which occurred at the company's plant in Luleå in 1997. Including accrued
interest, the awarded compensation totalled approx. SEK 302 million, excluding
compensation for litigation costs. Subsequent hereto, Zürich Insurance, Sweden
Branch has appealed against the judgement to the Swedish Supreme Court, which
according to a decision dated June 2, 2008, rejected the appeal. Consequently,
the judgement delivered by Svea Court of Appeal is thereby finally confirmed. In
addition to the insurance compensation awarded according to the judgement,
approx. SEK 110 million has already been paid out in compensation as a
consequence of the breakdown. The final judgement has a positive impact on
SSAB's earnings in the amount of approx. SEK 260 million. 

SSAB, a global niche producer of high strength steel with a leading market
position and productivity, develops solutions in order to increase the
competitiveness of its customers. 

For further information, please contact: 
Jonas Bergstrand, General Counsel 					Phone: +46 8 45 45 700
Helena Stålnert, Executive Vice President, Communications 		Phone: +46 8 45 45
734