On February 16, 2004, the Board of Directions of Boliden AB (publ) (the "Company" or "Boliden") passed a resolution, based on an authorization received from the Extraordinary General Meeting on December 18, 2003, to undertake a new issue with preferential rights for existing shareholders whereby the number of shares will increase from 168,258,113 to 252,387,169, each with a nominal value of SEK 2.

Outokumpu and Carl Bennet have committed to subscribe for new shares by virtue of all their respective subscription rights, jointly owing 51.6 percent of the shares and votes in Boliden. In addition, Nordea and FöreningsSparbanken have undertaken to subscribe for all shares, 48.4 percent, that have not been subscribed for by other shareholders.

Terms in Brief
· Two shares held entitles to subscribe for one new share.
· Prospectus and notification of received subscription rights will be distributed to the shareholders beginning on or about March 16, 2004.
· The subscription price will be SEK 17 per new share.
· The subscription period shall take place during the period March 17 - March 31, 2004.
· Trading in subscription rights shall take place during the period March 17 - March 26, 2004.
· Subscription and payment-Subscription with preferential rights by cash payment during the subscription period.
· For subscription without subscription rights, see section "Terms and instructions-Subscriptions without support of subscription rights" in the Prospectus.
· It is estimated that the new shares will be delivered to the shareholders accounts' on or about April 15, 2004.

Please note that subscription and payment period will take place during the period March 17 – March 31, 2004. After expiration of the subscription period, remaining subscription rights will be void and without value. Remaining subscription rights will be deleted from from shareholders’ securities accounts without notice from VPC.

In order not to loose the value of received subscription rights shareholders must either exercise their subscription rights by subscribing for new Boliden shares, not later than March 31, 2004, or sell them, not later than March 26, 2004.

Read more in press release 2004-02-17: Boliden decides to issue new shares with preferential rights