THE PROPOSAL OF THE BOARD OF DIRECTORS TO THE EXTRAORDINARY GENERAL MEETING TO MAKE A RESOLUTION ON OPTION RIGHTS RELATED TO THE EXECUTION OF ACQUISITION RELATED TO COMPANIES RCS AND TMS

Ruukki Group Plc, Stock Exchange Release, 10 October 2008 at 12:28 p.m.         

The Board of Directors of Ruukki Group Plc proposes to the Extraordinary General
Meeting that the Extraordinary General Meeting would make a resolution on       
issuing option rights to Kermas Limited, related to partially paying the        
purchase consideration of the chrome ore and ferrochrome businesses to be       
acquired, with following terms and conditions that are described more precisely 
in appendix:                                                                    

The option rights will be issued without consideration to the company Kermas    
Limited.                                                                        

A total of 73,170,731 option rights will be issued and they will entitle the    
recipients to subscribe for a maximum total of 73,170,731 shares in Ruukki Group
Plc. The share subscription price per a share is EUR 2.30 (dividend adjustment).

The option rights' holders will primarily be entitled to new shares in the      
Ruukki Group Plc. If the Ruukki Group Plc has treasury shares at the time of    
subscription, the Board of Directors can decide that the option right holders   
will be entitled, either entirely or in part, to treasury shares.               

The precondition for share subscription is that Kermas Limited is entitled to   
the additional earn-out purchase consideration that is defined more precisely in
the agreements related to the proposed transaction. The Board of Directors of   
Ruukki decides on the number of the shares annually after the additional        
earn-out purchase consideration has been deemed as agreed.                      

The subscription period for the shares occurs annually within 30 business days  
after the approval of the additional earn-out purchase consideration and matures
on December 31, 2014. The subscription price may only be paid by off-setting it 
with an approved additional earn-out purchase consideration receivable Kermas   
Limited has from Ruukki Group Plc.                                              

ESPOO ON OCTOBER 10, 2008                                                       

RUUKKI GROUP PLC                                                                

BOARD OF DIRECTORS                                                              

Ruukki Group Plc's shares are listed on OMX Nordic Exchange Helsinki in which   
the shares of the Company are traded in the mid cap segment, in the industrials 
sector.                                                                         

For additional information, please contact:                                     

Alwyn Smit                                                                      
Chairman of the Board and CEO                                                   
Ruukki Group Plc                                                                
Telephone +358 50 442 1663 / +41 7960 19094                                     
www.ruukkigroup.fi                                                              

This stock exchange release is based on a translation into English of a document
written in Finnish. In case of any discrepancies, inconsistencies or            
inaccuracies, the Finnish version of the release shall prevail.