*B-WARRANTS OF EXEL OYJ 2001 WARRANT PRO

HEX HELSINKI                     SECURITIES EXCHANGE  RELEASE 266/2003
                                 OPTION RIGHTS        October 23, 2003
                                 


B-WARRANTS OF EXEL OYJ 2001 WARRANT PROGRAM LISTED ON OCTOBER 27, 2003
        
Trading in the B-warrants of Exel Oyj 2001 warrant program will start
on the Helsinki Exchanges on Monday, October 27, 2003.

Basic information on Exel Oyj 2001 B-warrants:


Trading code:                    EXL1VEW201
ISIN-code:                       FI0009607683
Round lot:                       200
Listing date:                    October 27, 2003
Subscription ratio:              1 (EXL1VEW201):
                                 1 (EXL1V)
Subscription price:              9,72 EUR / share
Subscription period started:     October 1, 2003
Subscription period will end:    April 30, 2006
Number of warrants:              185 000




HELSINKI EXCHANGES
Pekka Peiponen


About Us

Exel Composites (www.exelcomposites.com) is a leading composite technology company that designs, manufactures and markets composite products and solutions for demanding applications. Exel Composites provides superior customer experience through continuous innovation, world-class operations and long-term partnerships. The core of the operations is based on own, internally developed composite technology, product range based on it and strong market position in selected segments with a strong quality and brand image. Profitable growth is pursued by a relentless search for new applications and development in co-operation with customers. The personnel’s expertise and high level of technology play a major role in Exel Composites’ operations. Exel Composites Plc share is listed in Nasdaq Helsinki Ltd.

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