Rautaruukki's first half-year profit better than expected

Rautaruukki Oyj Stock Exchange Release 15 July 2004 at 2 pm

Rautaruukki's operating profit for January-June of 2004 will be
about EUR 190 million according to preliminary, unaudited
information. Demand for steel products has been stronger than the
company's expectations on the first half of the year and on the
second quarter in particular. Due to the prevailing good market
situation Rautaruukki has managed to improve the sales margins by
cutting down less profitable sales. The rise in steel product
prices has compensated the increased raw material expenses.

Rautaruukki will publish the January-June interim report on
Wednesday, 28 July.


Helsinki 15.7.2004

Rautaruukki Oyj

Sakari Tamminen
President and CEO


ADDITIONAL INFORMATION
Mikko Hietanen CFO, tel. +358 40 579 4359

DISTRIBUTION
Helsinki Exchanges
Principal Media