In connection with the new management system and business organization, the Outokumpu’s Board of Directors has appointed a new Group Executive Committee, effective 1 April 2005, and defined its members’ duties as follows: Juha Rantanen, President and Chief Executive and Chairman of the Group Executive Committee; Karri Kaitue, Deputy President and Deputy Chief Executive, Vice Chairman of the Group Executive Committee; Pekka Erkkilä, Executive Vice President – General Stainless, Production Operations; Olof Faxander (new to the Group Executive Committee) Executive Vice President – Specialty Stainless; Esa Lager, Chief Financial Officer, Executive Vice President; Executive Vice President – Human Resources, to be appointed. The current Group Executive Committee will continue in office until 1 April 2005.