BOLIDEN LIMITED REPORTS FOURTH QUARTER 2000 RESULTS

(All dollar amounts are in United States dollars)

Overview

•Continued improvement in operations, particularly mining operations.

•Rönnskär +200 expansion project continues to ramp-up. Full production expected in March 2001.

•Continued progress with Capital Management Program. After year-end:
-Agreement of purchase and sale signed to sell 50% interest in Norzink.
-Letter of intent signed to sell Lomas Bayas and Fortuna de Cobre.
-Letter of intent signed to sell BCZ copper tubing business.
-Agreement in principle reached to sell Gusum brass and copper tubing business.

•$418.6 million ($382.6 million net of taxes) write-down and unusual charges related to investments in Lomas Bayas and Fortuna de Cobre and Fabrication business.

•Refinancing discussions initiated with lenders under unsecured long-term debt facilities.

•Thomas Cederborg appointed President and CEO.