Olof Faxander appointed as new President and CEO of SSAB

SSAB’s President and CEO, Anders Ullberg, will go into retirement as planned in connection with the 2006 General Meeting. SSAB’s Board of Directors has appointed Olof Faxander as his successor. Olof Faxander is currently Vice President of Outokumpu, where he is responsible for the Specialty Stainless division. Olof Faxander will begin work on 1 March and become President and CEO after the General Meeting on 21 April. - The Board of Directors discussed the succession during the autumn, says Chairman of the Board Sverker Martin-Löf in a comment on the appointment. Olof Faxander possesses sound industry knowledge and has demonstrated good leadership in his previous posts. Thus, we believe that Olof Faxander possesses all of the requirements and qualifications necessary for the continued development of SSAB. - SSAB’s niche strategy will remain in place, states Olof Faxander. My goal is to continue to build based on this successful platform. I am proud of the confidence that the Board of Directors has entrusted in me and look forward with great interest to becoming President of the company. Olof Faxander was born in 1970 and has a degree in engineering from the Royal College Technology and a degree in economics from Stockholm University. He has held leading positions within Outokumpu, AvestaPolarit and Avesta Sheffield. - During more than 20 years, I have had the opportunity to participate in the extensive transition that SSAB has undergone from being a Swedish bulk producer into being a strong niche player on the global market, says Anders Ullberg. This long-term strategy has proved to be profitable and created value for our shareholders. The Group is strong and I am convinced that SSAB will continue to develop positively under Olof Faxander’s leadership. Photographs of Olof Faxander can be downloaded from Outokumpu’s website www.kuvaporssi.fi/dias/outokumpupublic/ Public Affairs Ulrika Ekström +46 8-45 45 734 +46 703-98 54 52