Completion of the sale of Exel Sports Outdoor business to Karhu Sports

EXEL OYJ STOCK EXCHANGE RELEASE 30 May 2008 at 4.00 pm 1 (1)

COMPLETION OF THE SALE OF EXEL SPORTS OUTDOOR BUSINESS TO KARHU SPORTS

In the stock exchange release published on 2 May 2008, Exel disclosed an agreement under which Exel sells its Sports Outdoor business to Karhu Sports.

The conditions of closing have now been met, and the transaction has been completed with effect as of 1 June 2008.

The business transfer streamlines the business structure of Exel Group and increases the focus on the core industrial activities.


Vantaa, 30 May 2008

EXEL OYJ


Vesa Korpimies
President and CEO

Further information:
Vesa Korpimies, President and CEO, Exel Oyj, tel. +358 50 590 6754 or e-mail: vesa.korpimies@exel.net


DISTRIBUTION
OMX Nordic Exchanges Helsinki
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 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. Exel’s share is listed in the Small Cap segment of the OMX Exchanges/Helsinki Nordic list.