Rautaruukki and Aspo signs an agreement for the sea transport of raw materials

Rautaruukki Oyj Stock Exchange Release 20 October 2003 at 12.30 pm

JIT-Trans Ltd, which belongs to the Rautaruukki Group, and ESL Shipping
Oy, an Aspo Group company, have signed an agreement for the sea
transports of the Rautaruukki Group's raw materials in the Baltic Sea
area as from the beginning of 2004. The length of the freight agreement
is seven years and its value is set at EUR 20 million a year. The Letter
of Intent was signed on July 2003.

Under agreements, transport fleet comprising five 13,500 tonne barges and
two push-tugs is to be transferred to ESL Shipping. The transfer
transport fleet to ESL Shipping will not have an effect on Rautaruukki's
earnings.


Rautaruukki Oyj
Esko Lukkari
VP, Corporate Communications


ADDITIONAL INFORMATION
Pekka Vaarno, Vice President, tel. +358 9 4177 6312

DISTRIBUTION
Helsinki Exchanges
Pricipal Media
www.rautaruukki.com

-------------------------------------------------------------------------

Rautaruukki produces total solutions for the construction, mechanical
engineering and metal fabrication industries. The group has a wide
selection of products and services for metal products. Rautaruukki is a
listed company that manufactures products in 17 European countries and
employs nearly 13,000 people. The group has a turnover of some EUR 3
billion.