Exel Oyj's Kivara factory's workers' remonstration

EXEL OYJ STOCK EXCHANGE ANNOUNCEMENT 3.6.2005 at 11.15 EXEL OYJ’S KIVARA FACTORY’S WORKERS’ REMONSTRATION Exel Oyj’s Kivara factory’s morning shift workers have unexpectedly organized a remonstration by stopping work this morning. No advance notice has been given and the matter has not been discussed with the employer in advance. The remonstration apparently concerns technical maintenance issues and working conditions at the factory, especially air cleanliness. The factory’s air purification is checked regularly by the employer and controlled by the authorities and the latest measuring results have not shown any signs of deterioration. In 2004 the working conditions at the Kivara factory have been improved by e.g. investing remarkable sums of money to improve the ergonomics, occupational safety and environmental protection with regard to resin handling. Projects to improve occupational hygiene and ergonomics are constantly ongoing in connection with normal maintenance work at the factory. The projects are monitored for example in the work safety committee. The implementation of the ISO 14001 standard is being prepared for at the Kivara factory. Exel is among the first composite technology companies to apply for the certification of its environmental management systems. Exel aims at finding solutions to further develop the working environment by negotiating with its personnel. Further processing and delivery of the goods are running practically normally. Thus, the remonstration has no major effect on customer deliveries. According to the factory’s chief shop steward the workers will return to work on Monday 6 June 2005 at the latest. The situation will then be settled further. Mäntyharju, 3 June 2005 EXEL OYJ Ari Jokelainen President & CEO Further information: Ari Jokelainen, President, tel. +358 50 590 6750 Vesa Korpimies, Vice President, tel. +358 50 590 6754 Exel Oyj is a Finnish company specialised in composite technology. The Group’s operations consist of sporting goods and industrial applications. Exel’s best-known products include cross-country and alpine poles, Nordic Walking poles, surfboard masts, floorball clubs and industrial profiles in general. The Group’s six factories are located in Finland, Germany, Belgium, Austria and Spain. Over 80% of production is exported. In 2004 the Group’s net sales totalled EUR 83.9 million. Exel personnel numbers 420. Exel’s share is listed on Helsinki Exchanges Main List.