Offer terms regarding redemption of SSAB shares

3/18/2005 2:01 AM EST

The notice to attend the Annual General Meeting of SSAB Svenskt Stål AB to be held in Luleå on Friday, April 22, which is published in today’s Dagens Nyheter, contains the Board of Directors’ proposal regarding redemption of shares.
The notice is attached to this message.

The proposal entails, in brief:

• Redemption of every tenth share at a price of SEK 210 per share;
• Trading in redemption rights will take place between 3 – 23 May;
• Payment for redeemed shares will take place in the middle of June;

In order to ensure that the redemption offer is implemented even if the SSAB share price changes significantly, the Board of Directors reserves the right to alter the redemption price and the redemption ratio not later than one week prior to the Annual General Meeting.

The Board of Directors’ complete proposed resolution regarding redemption will be available not later than 15 April and distributed to the shareholders upon request. The proposal will also be available on www.ssab.se/uk

Distribution of the printed annual report in English will commence at the beginning of April and, at such time, may also be downloaded from www.ssab.se/uk

For further information, please contact:

Martin Lindqvist
Chief Financial Officer
+ 46 8-45 45 732