Stock Exchange release October 22, 2002 02:34:48 PM CET

SAKARI TAMMINEN TO BECOME PRESIDENT & CEO OF RAUTARUUKKI AS FROM 1 JANUARY 2004

Rautaruukki's Board of Directors has appointed Sakari Tamminen (48), M. Sc. (Econ.), as the company's President & CEO as from 1 January 2004. Mikko Kivimäki, President & CEO of Rautaruukki, is retiring on 1 January 2004.
Sakari Tamminen will become Senior Executive Vice President and Deputy to the President at the latest on 1 May 2003.
Sakari Tamminen is currently employed as Executive Vice President & CFO and as Deputy to the President at Metso Corporation.
 
Metso Corporation is a global supplier of process industry machinery and systems, as well as know-how and aftermarket services. The Corporation's core businesses are fiber and paper technology (Metso Paper), rock and mineral processing (Metso Minerals) and automation and control technology (Metso Automation). In 2001, the net sales of Metso Corporation were EUR 4.3 billion and the personnel totaled approximately 30,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.