Rautaruukki's shareholders' Nomination Board is to propose to the Annual General Meeting convening on March 14th 2012 that the number of Board members remains unchanged at seven. The Nomination Board proposes the re election of Mr Pertti Korhonen, Ms Liisa Leino, Mr Matti Lievonen, Mr Hannu Ryöppönen and Ms Jaana Tuominen and the election of Mr Kim Gran and Ms Saila Miettinen Lähde as new members.

The Nomination Board proposes that Mr Kim Gran be elected as chairman of the Board and Hannu Ryöppönen as deputy chairman. It is proposed that the fees of the Board of Directors remain unchanged.

The Nomination Board appointed by Rautaruukki's shareholders is to propose to the Annual General Meeting convening on March 14th 2012 that the number of Board members remains unchanged at seven.

The Nomination Board proposes the re election of current members of the Board of Directors, President & CEO Mr Pertti Korhonen, Chairman of the Board of Directors Ms Liisa Leino, President & CEO Mr Matti Lievonen, Mr Hannu Ryöppönen BA (Bus Admin) and CEO Ms Jaana Tuominen for a further term of office lasting one year from the 2012 Annual General Meeting until the close of the 2013 Annual General Meeting.

Furthermore, the Nomination Board proposes that Mr Kim Gran be elected as chairman of the Board of Directors and that Mr Hannu Ryöppönen be re elected as deputy chairman. All candidates have consented to election.

Moreover, the Nomination Board proposes that the annual fees of the Board of Directors are:
Chairman EUR 72,000 (2011: EUR 72,000)
Deputy chairman EUR 44,000 (EUR 44,000)
Members EUR 34,000 (EUR 34,000)

In addition to the above, Board members are paid an attendance fee of EUR 600 per meeting for Board of Directors' meetings and Board of Directors' committee meetings. The Nomination Board proposes that 40% of the annual fee be paid in the form of Rautaruukki Oyj shares purchased on the market. The shares will be purchased within two weeks of the publication of the company's interim report for the first quarter of 2012.

According to the proposal, the Annual General Meeting will resolve to acquire the shares directly on behalf of members of the Board of Directors. This is an acceptable way to acquire Rautaruukki Oyj shares for Board members under applicable insider rules. The Nomination Board also considers that increasing the long term shareholding of Board members is in the interest of all shareholders.

The proposals above are included in the notice of the Annual General Meeting.