Exel's New Management Organization

PRESS RELEASE 13 June 2007

Exel’s New Management Organization

During the recent years Exel has gone through a substantial internationalization both by organic growth and via a number of international acquisitions. The acquisition of Pacific Composites in 2006 brought Exel to a new higher level and the company became the world’s largest and most international pultrusion composite company.

To strengthen the organization the following organizational changes will be implemented as from July 1, 2007:

The Industry Division will be organized in two Business Areas; Europe and Asia/ Pacific. Business Area Europe will be headed by Vesa Korpimies. In addition he will maintain his duties as Executive Vice President of the Exel Group. Business Area Asia/Pacific will be headed by Grant Pearce who will be appointed Senior Vice President and member of the Management Group.

A new function, Operations, will be established and will be headed by Callum Gough, at present Manager of Exel’s UK/Belgium operation. He will be appointed acting Senior Vice President Operations and will as such be member of Exel Management Group.

The Management Group of Exel will with the above changes as from July 1 have the following members:

-Göran Jönsson, President & CEO
-Vesa Korpimies, Executive VP and Business Area Manager Europe
-Grant Pearce, Senior Vice President and Business Area Manager Asia/Pacific
-Ilkka Silvanto, Senior Vice President and CFO
-Callum Gough, acting Senior Vice President Operations


Further information:
Mr. Göran Jönsson, President & CEO, tel. +46 708 430 110, or email goran.jonsson@exel.fi
Mr. Ilkka Silvanto, CFO, tel. +358 50 598 9553, or email Ilkka.silvanto@exel.fi


EXEL IN BRIEF
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, floorball sticks, antenna radomes and other industrial applications. In 2006 the Group’s net sales totalled EUR 112 million. Exel personnel averages 550. Exel’s share is listed in the Mid Cap segment of the OMX Exchange’s Nordic list.