Reorganisation of Rautaruukki's precision tube production

Rautaruukki Oyj Stock Exchange Release 26 September 2003 at 9 am

Rautaruukki is reorganising its precision tube production and starting
personnel negotiations with a view to terminating production at Nordisk
Simplex A/S in Denmark.

The need for restructuring has arisen because demand and production
capacity are out of balance in the main market area for the Danish tube
works. The market is not expected to grow in the near future.

The reorganisation will make it possible to improve the cost-efficiency
and profitability of Rautaruukki's precision tube business by
concentrating operations and resources in fewer places. The Group's other
precision tube works are located in Finland and Germany. The
reorganisation will not affect Rautaruukki's supply of tubular products
to customers, since this will be met by the company's other precision
tube works.

The reorganisation should be completed during the second quarter of 2004.
Nordisk Simplex A/S employs 115 people. The reorganisation of precision
tube production will not have a significant impact on Rautaruukki's
result for 2003.


Rautaruukki Oyj

Esko Lukkari
VP, Corporate Communications


ADDITIONAL INFORMATION
Heikki Rusila, President, Production Division
tel. +358 9 528 5200

DISTRIBUTION
Helsinki Exchanges
Principal Media
www.rautaruukki.com