Exel Sports Oy concluded co-determination negotiations

EXEL OYJ    STOCK EXCHANGE RELEASE  21.11.2008 at 15.15   1 (1)

EXEL SPORTS OY CONCLUDED CO-DETERMINATION NEGOTIATIONS 

Exel Sports Oy's co-determination negotiations were concluded on 21 November
2008. The negotiations were based on operative and financial needs of improving
the profitability and concluding the structural change of Exel Oyj's Finnish
subsidiary Exel Sports Oy. 

The negotiations were based on the employer's negotiation proposal. As a result
of the negotiations, the amount of permanent employment contracts to be
terminated is three. In addition, one temporary employment contract will be
terminated, and the job descriptions of two salaried employees will be changed
to be in line with the new situation. 

After the layoffs Exel Sports Oy will employ 9 persons.

Co-determination negotiations at Exel Oyj's Swedish subsidiary Exel Sweden AB
(formerly International Gateway AB) are still ongoing. 


Vantaa, 21 November 2008


EXEL OYJ

Vesa Korpimies
President and CEO

Further information:
Vesa Korpimies, President and CEO, tel. +358 50 590 6754, or email
vesa.korpimies@exel.net 


DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main news media
www.exel.net


Exel is a technology company which designs, manufactures and markets composite
profiles and tubes for industrial applications and sports equipment. 

The personnel´s expertise and high level of technology play a major role in
Exel´s operations. The core of the operations is based on proprietary,
internally developed composite technology, product range based on it and the
domination of selected market segments with a strong quality and brand image.
The Company´s growth is based on permanent search of new applications and
development in co-operation with customers. Exel concentrates on niche segments
and on profitable growth. Exel's share is listed in the Small Cap segment of
the NASDAQ OMX Helsinki Ltd.