COMPLETION TO EXEL OYJ’S STOCK EXCHANGE RELEASE CONCERNING THE ACQUISITION OF PACIFIC COMPOSITES

EXEL OYJ STOCK EXCHANGE RELEASE 27.2.2006 14.30 COMPLETION TO EXEL OYJ’S STOCK EXCHANGE RELEASE CONCERNING THE ACQUISITION OF PACIFIC COMPOSITES To complete the stock exchange release regarding the acquisition of Pacific Composites Pty. Ltd, we announce the following: the total assets and liabilities of the company to be acquired were EUR 14.1 million (AUD 22.6 million) at the end of the company’s financial year on 30 June 2005 and equity EUR 7.9 million (AUD 12.7 million). The published purchase price is based on equity being EUR 8.5 million (AUD 13.7 million) at the time of completion on 28 February 2006. Mäntyharju, 27 February 2006 EXEL OYJ Ari Jokelainen President Further information: Mr Ari Jokelainen, President, Exel Oyj, tel. +358 50 590 6750 www.exel.net 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, antenna radomes and other industrial applications. In 2005 the Group’s net sales totalled EUR 91 million. Exel personnel averaged 450. Exel’s share is listed on Helsinki Stock Exchange’s Main List.

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Exel Oyj on komposiittisia urheiluvälineitä ja teollisuusprofiileja suunnitteleva, valmistava ja markkinoiva teknologiayritys. Exelin liiketoiminta muodostuu Sport- ja Teollisuus-liiketoiminnoista. Henkilöstön osaaminen ja korkea teknologian taso ovat avainasemassa Exel Oyj:n toiminnassa. Liiketoiminnan ytimen muodostaa itse kehitetty komposiittiteknologia, siihen perustuva tuotteisto ja valittujen markkinasegmenttien hallinta vahvalla laatu- ja tuotemerkki-imagolla. Jatkuva uusien sovelluskohteiden etsiminen ja kehitys yhteistyössä asiakkaiden kanssa mahdollistavat yrityksen kasvun. Exel panostaa valituille kapeille sektoreille sekä kannattavaan kasvuun. Exel Oyj is a technology company which designs, manufactures and markets composite sports equipment and industrial applications. Exel's operations comprise two divisions: Sport and Industry. 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 own, 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.

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