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AVENA OY TO MERGE WITH LÄNNEN TEHTAAT

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LÄNNEN TEHTAAT PLC  STOCK EXCHANGE RELEASE January 31, 2003, at 2.30 pm


AVENA OY TO MERGE WITH LÄNNEN TEHTAAT

The Board of Lännen Tehtaat plc has today signed an agreement over a
merger plan in which Avena Oy, wholly owned subsidiary of Lännen
Tehtaat plc, will be absorbed into Lännen Tehtaat without liquidation.
According to the merger plan, Avena is to be merged into Lännen
Tehtaat with all its assets and debts without financial consideration.
The company has no capital loans, and no special rights or interests
will be granted within the meaning of Chapter 14, section 4,
subsection 2, paragraph 8, of the Companies Act in connection with the
merger. The merger will be implemented in order to simplify the Group
structure and achieve savings in administrative costs. The merger is
planned to take effect on December 31, 2003.

Avena Oy came into being on November 1, 2002 as a result of the
demerger of a company previously operating under the same name. The
company is a holding company which owns animal nutrition specialists
Suomen Rehu Oy (ownership 82%) and its subsidiaries, and Avena Nordic
Grain Oy, which is in the grain trade. Avena Oy has no significant
business activity of its own. The seven persons employed by the
company will be transferred to Lännen Tehtaat plc.

LÄNNEN TEHTAAT PLC

Erkki Lepistö
President & CEO

More details: Erkki Lepistö, President & CEO, tel. +358 2 8397 4001

Distribution:
Helsinki Exchanges
Main media
www.lannen.fi

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