ANNOUNCEMENT PURSUANT TO SECTION 2, PARA

EXEL OYJ STOCK EXCHANGE ANNOUNCEMENT         10.6.2004 at 12.45

ANNOUNCEMENT PURSUANT TO SECTION 2, PARAGRAPH 10 OF THE FINNISH
SECURITIES MARKET ACT

Exel Oyj has been notified that Metso Capital Oy’s (business code
0110636-3) ownership share has fallen below one-tenth of Exel Oyj’s
share capital and voting rights as a result of share transactions made
on 9 June 2004. Metso Capital sold 550,000 shares of the company.
After the transactions Metso Capital owns no Exel shares.


Mäntyharju, 10 June 2004

Exel Oyj


Ari Jokelainen
President

Further information:
President Ari Jokelainen, Exel Oyj, tel. +359 50 590 6750



Exel Oyj is a Finnish company specialised in composite technology. The
Group’s operations consist of sporting goods and industrial
applications. Exel’s best-known products include cross-country and
alpine poles, Nordic Walking poles, surfboard masts, floorball clubs
and industrial profiles in general. The Group’s six factories are
located in Finland, Germany, Belgium and Spain. Over 80% of production
is exported. In 2003 the Group’s net sales totalled EUR 57.3 million.
Exel personnel numbers 450. Exel’s share is listed on Helsinki
Exchanges main list.


About Us

Exel Composites is the world’s leading composite technology company that engineers and manufactures composite products and solutions to an extensive range of demanding industrial applications. The core of the business is based on the employees’ high level of expertise and own, internally developed composite technologies, which have been perfected over decades with a steady focus on innovation. With nine manufacturing plants across Europe, Asia, and North America, and a global sales network, Exel Composites is firmly driven by superior customer experience and world-class operations. Headquartered in Finland, Exel Composites employs approximately 650 people globally. The company’s shares are listed on the Nasdaq Helsinki exchange. www.exelcomposites.com

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