Outokumpu divests rights to royalties from Forrestania resources

STOCK EXCHANGE RELEASE
22 December 2011 at 9.00 am EET
 
Outokumpu has sold the Group's rights to royalties from Forrestania nickel and precious metals resources to the Australian company Western Areas NL for EUR 23 million (USD 30 million). As these royalties were valued at zero on the Outokumpu balance sheet, non-recurring operating income of approximately EUR 23 million will be booked in the Group's fourth quarter 2011 operating results. The transaction will have a positive impact of EUR 11.5 million on Outokumpu's cash flow in the fourth quarter of 2011 and a positive impact of EUR 11.5 million on cash flow in the fourth quarter of 2012.

The Group's Forrestania royalty assets have had only a marginal positive impact on Outokumpu's operating profit in recent years. As a result of this divestment, the Group will no longer receive any payments in connection with these royalty rights.
 
For further information:

Kari Tuutti, SVP - Communications & Investor Relations, tel. +358 9 421 2432,
mob. +358 40 717 0830

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 8 000 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