ETTEPLAN ACQUIRED A MAJORITY STAKE IN SWEDISH LUTAB

ETTEPLAN ACQUIRED A MAJORITY STAKE IN SWEDISH LUTAB

Etteplan Oyj has signed an agreement to acquire a majority stake in the Swedish consultancy company Lutab Professor Sten Luthander Ingenjörsbyrå AB (publ) (LUTAB). LUTAB, established in 1961, offers a unique combination of competence within advanced industrial technology. LUTAB also has unique competence within dimensioning of structures in modern composite materials. Furthermore, LUTAB provides system safety engineering, requirement engineering and verification of advanced technical systems. LUTAB's clients include developers, manufacturers and users within high-technology industrial applications, primarily the aviation and defence sectors as well as the vehicle and transport industries, but also within the electronics industry and the power industry. LUTAB has 35 consultants and around 20 experts linked to the company as sub-consultants. The company has office in Stockholm. In 2006 LUTAB's revenue amounted to SEK 39.2 million. At the time of signing Etteplan acquires 83 percent of the shares and voting rights from the main owners of the company. The minor shareholders can accede to the agreement in which Etteplan has the ambition to increase to 100 percent. The fulfilment of the transaction is subject to Etteplan acquiring over 90 percent of the shares. The definitive purchase price will depend on LUTAB's equity position as per 30 December 2007 as well as the financial performance during 2008 and 2009. The consideration will be in cash. The closing of the transaction is expected to take place in January 2008. LUTAB will become a part of Etteplan's Swedish operations and is planned to continue as its own entity within Etteplan and to develop its business according to jointly developed strategies. The acquisition supports Etteplan's growth strategy within Europe to enforce Etteplan's competence and market position especially within the aerospace industry. LUTABs' operations support the service to Etteplan's existing key customers within cutting edge technology. In addition the transaction further strengthens the realization of synergies between Etteplan's companies. According to Johan Westberg, CEO of LUTAB, becoming a part of a larger consultancy group provides LUTAB better possibilities to carry out larger and more demanding projects, to further develop and widen LUTAB's operation and to enlarge the client base. As a consequence LUTAB's position in the market will strengthen. Etteplan is one of the largest companies in the Nordic Countries providing industrial technology design and expert services. The company supplies high-quality services for its customers for production and product development processes. The core areas of expertise are mechanical engineering, automation and information design as well as software development and electronics design. In 2006, revenue of Etteplan Group amounted to EUR 101.7 million. The Etteplan Group employs more than 2 000 persons in Finland, Sweden, Germany, Italy and China. Hollola, 26 October, 2007 Etteplan Oyj Heikki Hornborg CEO For additional information, contact: Etteplan Oyj, CEO Heikki Hornborg, tel. +358 400 873 063 Etteplan Industry, Tom Andersson, tel +46 70 568 0732 or LUTAB, CEO Johan Westberg, tel. +46 73 358 72 37 DISTRIBUTION OMX Nordic Exchange Helsinki Principal media www.etteplan.com