SSAB — Share Issue/Capital Change 2008

Sep 17, 2008

Date: September 17, 2008

PRESS RELEASE

SSAB extra general meeting

The Board of Directors of SSAB has decided to convene an extra general meeting of the shareholders and will thereupon propose that the general meeting authorize the Board to decide upon buy-backs of the Company's shares.

The proposal is backed by the strengthening of the Company's balance sheet, following the disposal of the tubular business and the strong operating cash flow, since the acquisition of IPSCO.

The purpose of the proposal is to provide the Board with an instrument until the annual general meeting 2009 to be able to adjust the Company's capital structure in line with the overall financial targets.

The Board's proposal entails that the authorization may be exercised to acquire on the OMX Nordic Exchange in Stockholm not more than 10% of the outstanding shares of the Company.

The Board intends to propose to the 2009 annual general meeting of the shareholders that it adopt a resolution regarding cancellation of the acquired treasury shares by means of a reduction of the share capital without repayment to the shareholders.

The Company currently holds no treasury shares.

The extra general meeting is planned to be held in Stockholm on October 22, 2008. An announcement will be published shortly.

SSAB is a global producer of steels in the high-strength and quenched steels niches, and is a leader in its markets and as regards productivity. We develop solutions which increase our customers' competitiveness.

For further information, please contact: Helena Stålnert, Exec. V.P. Communications Tel. +46-8-45 45 734 Catarina Ihre, Investor Relations Tel. +46-8-45 45 729

This information is such that SSAB must disclose in accordance with the Securities Markets Act. This information was submitted for publication on September 17, 2008 at 08:00 am.