Mika Sulin resigns from Exel Sports Oy, Aki Karihtala appointed new Managing Director

EXEL OYJ STOCK EXCHANGE RELEASE     10.1.2007 at 10.151 1 (1)


Significant reorganizations were implemented at Exel Oyj’s
subsidiary Exel Sports Oy in 2006 with the aim of improving
profitability considerably. The transfer of surface treatment,
assembly and packaging of pole and floorball products to China is
nearly completed. In addition, the warehousing and delivery
operations have been outsourced to a service provider. The
outsourcing aims at decreasing the cost level to the present
market situation.

Mr. Aki Karihtala, 45, Senior Vice President of Exel’s Sport
Division, has been appointed Exel Sports Oy’s Managing Director as
of 1 March 2007. Karihtala has worked for Exel for 20 years. Aki
Karihtala succeeds Mr. Mika Sulin.

”We have now implemented major structural changes and the
adjustment of the operations to the market situation. I am
confident that the new organization will continue to take all the
necessary measures to continue to improve the profitability of
Exel Sports”, Mika Sulin says.

”I wish to thank Mika Sulin for his excellent efforts as Exel
Sports’ Managing Director. Last year was extremely challenging.
Exel’s Sport Division has changed in a very short time from a
traditional production company to a sales and marketing company.
We have adjusted our operations to match the markets. We believe
that the measures that have already been taken and with our strong
sport and fitness product folio we will be able to develop into a
strong international and competitive sales and marketing
organization”, Aki Karihtala says.

Vantaa, 10 January 2007


Göran Jönsson
President & CEO

Further information:
Mr. Göran Jönsson, President & CEO, Exel Oyj, tel. +46 708 43 0110
Mr. Mika Sulin, Managing Director, Exel Sports Oy, tel. +358 40 527
Mr. Aki Karihtala, Senior Vice President, Exel Oyj Sport Division, tel.
+358 50 590 6752

Exel Oyj is a leading, international Group specialised in
composite technology, with a special focus on pultrusion, pull-
winding and continuous lamination. The Group’s operations include
design, manufacturing and marketing of advanced composite products
for industrial applications and consumer goods. Exel’s most well-
known consumer products include cross-country, alpine and Nordic
Walking poles, floorball sticks, antenna radomes and other
industrial applications. In 2005 the Group’s net sales totalled
EUR 91 million. Exel personnel averages 600. Exel’s share is
listed in the Mid Cap segment of the OMX Exchange’s Nordic 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