Decisions of the Annual General Meeting of Exel Oyj registered

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EXEL OYJ STOCK EXCHANGE RELEASE 21.4.2005 at 10.20    1 (1)

DECISIONS OF THE ANNUAL GENERAL MEETING OF EXEL OYJ REGISTERED

The decisions made at the Annual General Meeting of Exel Oyj on 14
April 2005 regarding the increase of the number of shares (so-called
share split), increase in the share capital through a bonus issue,
amendment of the article 4 of the Articles of Association, change of
the terms and conditions of the option rights 2001, the authorizations
of the Board to increase the Company’s share capital and to convey the
Company’s own shares and the new Board of Directors of the Company
have been registered into the Trade Register today.

The splitted Exel Oyj share (1:2) will be traded on the Helsinki
Exchanges as of Friday 22 April 2005.

Exel Oyj’s fully paid share capital is now EUR 2,021,400.00, the
number of the shares 11,230,000 and the counter-book value of a share
EUR 0,18.

The number of shares that can be subscribed for with the option rights
attached to the option scheme approved by the Annual General Meeting
on 28 March 2001 has been changed in the same ratio as the number of
shares has been increased so that each option right holder is now
entitled to subscribe for two (2) new shares with one (1) option
right. The new subscription prices for option rights, adjusted with
the dividend from the year 2004, are:

2001 A: EUR 4.11/share
2001 B: EUR 3.86/share



Mäntyharju, 21 April 2005

EXEL OYJ

Ari Jokelainen
President & CEO


Further information:
Mr. Ari Jokelainen, President & CEO, Exel Oyj, tel. +358 50 590 6750





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