Boliden reports improved cash flow and positive result for second quarter 2002

•Boliden reports a profit of SEK 21 million (-624 million) after financial items for the first half of 2002. This indicates an improvement of SEK 1 195 million, excluding operations that have been sold or shut down, as well as items affecting comparability (IAC).

•The operating profit for the first half of 2002 amounted to SEK 173 million (154 M). This indicates an improvement of SEK 569 million, excluding operations that have been sold or shut down, as well as items affecting comparability (IAC).

•Cash flow from current operations amounted to SEK 78 million. This indicates an improvement of SEK 860 million compared with the same period last year. The improvement between the first and second quarters 2002 amounted to SEK 470 million.

•An extensive mineralization was discovered at 'Lappberget' near Garpenberg. It indicates the potential for substantial volumes and high grades of mainly zinc, lead and silver.

•Commercial production has begun at the Storliden mine.

•The current prices of Boliden's main metals are expected to improve as a result of increased demand in combination with diminished supplies on the metal market.