Outokumpu - the investigation of Outokumpu's ex...

PRESS RELEASE
November 23, 2010 at 3.15 pm EET


The process of considering charges related to the investigation of Outokumpu's
export practices from Finland to Russia during 2004-2006 has been completed.
Public prosecutor has stated that the suspicions raised by the Finnish Customs
related to accounting offences and forgery are groundless. However, the case
proceeds to court as the prosecutor has decided to press charges against
Outokumpu and 5 Outokumpu employees related to alleged money laundering.

Outokumpu states that neither the Group nor its personnel have committed such
crimes. The suspicion related to money laundering is based on the company having
done business with parties that apparently have conducted crimes when importing
company's products into Russia.

In March 2007, Finnish Customs authorities initiated a criminal investigation
into the Group's Tornio Works' export practices into Russia. The court
proceedings are expected to begin during 2011.


For more information please contact:
Matti Louhija, SVP - Corporate General Counsel,
tel. [phone], mobile [phone]


OUTOKUMPU OYJ



Outokumpu is a global leader in stainless steel with the vision to be the
undisputed number one. Customers in a wide range of industries use our stainless
steel and services worldwide. Being fully recyclable, maintenance-free, as well
as very strong and durable material, stainless steel is one of the key building
blocks for sustainable future. Outokumpu employs some 7 500 people in more than
30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is
listed on the NASDAQ OMX Helsinki.
www.outokumpu.com



[HUG#1464843]





ENG Investigation completed 23112010: 


http://hugin.info/3010/R/1464843/403255.pdf




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Source: Outokumpu Oyj via Thomson Reuters ONE