Boliden has sold its Outokumpu shares

Stockholm, SWEDEN

STOCKHOLM, Sweden, Jan. 22, 2004 (PRIMEZONE) -- Boliden has today sold all of its 5 million Outokumpu shares, which represent 2.8 per cent of the total amount of votes and share capital in the company. Boliden will use the sale proceeds of around SEK 500 million (Euro 55 million) mainly to prepay its external loans.

Boliden received the shares, which were now sold as a payment from Outokumpu for the sale of its fabrication and technology sales operations to Outokumpu at the end of 2003.

Alfred Berg /ABN-AMRO Rothschild acted as advisor to Boliden in this transaction.

For further information, please contact:

Jan Johansson, President and CEO, telephone +46 8 610 1602, + 46 70 555 02 02 Ulf Soderstrom, Senior VP Group Communications, telephone +46 8 610 15 57, +46 70 618 95 95

Boliden is one of the leading mining and smelting companies in the worldwith operations in Sweden, Finland, Norway, Ireland and Canada. Boliden's main products are copper, zinc, lead, gold and silver. Exploration and Recycling of Base Metals are also important within the company. The number of employees is approximately 4 800 and the turnover amounts to approximately EUR 1.6 billion annually.

The Boliden share is quoted on the Stockholm Stock Exchange in Sweden as well as on the Toronto Stock Exchange in Canada.

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