Co-determination negotiations started in the Finnish units of the Exel Group

EXEL COMPOSITES PLC STOCK EXCHANGE RELEASE 11.6.2009 at 12.00 CO-DETERMINATION NEGOTIATIONS STARTED IN THE FINNISH UNITS OF THE EXEL GROUP Exel Composites continues measures to improve its profitability and efficiency. Co-determination negotiations will be started in the Finnish units of the Exel Group due to declining demand and to improve efficiency. The negotiations concern all the persons working in the Finnish units. At present the Finnish units of the Exel Group employ 204 persons of whom 132 work at the Kivara factory and 59 at the Mäntyharju factory. In addition, 13 persons work in Group functions. The aim is to conclude the negotiations during week 31. It is estimated that a maximum of 34 employment contracts of non-salaried employees will be reduced at Exel Composites Plc’s Finnish factories, or achieve in another way corresponding savings in labor costs. As far as the employment contracts of salaried employees are concerned, it is estimated that a maximum of 14 employment contracts will be reduced at Exel Composites Plc’s Finnish units, or achieve in another way corresponding savings in labor costs. ”We will improve and adjust our operations to better correspond with the present market and competition situation. We expect to achieve necessary savings for example by eliminating overlapping operations and restructuring the organization”, Mr. Vesa Korpimies, Exel Composites Plc’s President and CEO, says. Vantaa, 11 June 2009 EXEL COMPOSITES PLC Vesa Korpimies President and CEO Further information: Vesa Korpimies, President and CEO, Exel Composites Plc, tel. +358 50 590 6754, or email vesa.korpimies@exel.net Ilkka Silvanto, CFO, Exel Composites Plc, tel. +358 50 598 9553, or email ilkka.silvanto@exel.fi DISTRIBUTION NASDAQ OMX Helsinki Ltd. Main news media www.exelcomposites.com EXEL COMPOSITES IN BRIEF Exel Composites is a technology company which designs, manufactures and markets composite profiles and tubes for industrial applications. The Group is the leading composite profile manufacturer in the world and concentrates on growing niche segments. The core of the operations is based on own, internally developed composite technology, product range based on it and a strong market position in selected segments with a strong quality and brand image. Profitable growth is pursued by a relentless search for new applications and development in co-operation with customers. The personnel’s expertise and high level of technology play a major role in Exel Composites’ operations. Exel Composites Plc share is listed in the Small Cap segment of NASDAQ OMX Helsinki Ltd.