Mika Sulin resigns from Exel Sports Oy, Aki Karihtala appointed new Managing Director

EXEL OYJ STOCK EXCHANGE RELEASE 10.1.2007 at 10.15

MIKA SULIN RESIGNS FROM EXEL SPORTS OY, AKI KARIHTALA APPOINTED NEW MANAGING DIRECTOR

Significant reorganizations were implemented at Exel Oyj’s subsidiary Exel Sports Oy in 2006 with the aim of improving profitability considerably. The transfer of surface treatment, assembly and packaging of pole and floorball products to China is nearly completed. In addition, the warehousing and delivery operations have been outsourced to a service provider. The outsourcing aims at decreasing the cost level to the present market situation.

Mr. Aki Karihtala, 45, Senior Vice President of Exel’s Sport Division, has been appointed Exel Sports Oy’s Managing Director as of 1 March 2007. Karihtala has worked for Exel for 20 years. Aki Karihtala succeeds Mr. Mika Sulin.

”We have now implemented major structural changes and the adjustment of the operations to the market situation. I am confident that the new organization will continue to take all the necessary measures to continue to improve the profitability of Exel Sports”, Mika Sulin says.

”I wish to thank Mika Sulin for his excellent efforts as Exel Sports’ Managing Director. Last year was extremely challenging. Exel’s Sport Division has changed in a very short time from a traditional production company to a sales and marketing company. We have adjusted our operations to match the markets. We believe that the measures that have already been taken and with our strong sport and fitness product folio we will be able to develop into a strong international and competitive sales and marketing organization”, Aki Karihtala says.


Vantaa, 10 January 2007


EXEL OYJ


Göran Jönsson
President & CEO


Further information:
Mr. Göran Jönsson, President & CEO, Exel Oyj, tel. +46 708 43 0110
Mr. Mika Sulin, Managing Director, Exel Sports Oy, tel. +358 40 527 8101
Mr. Aki Karihtala, Senior Vice President, Exel Oyj Sport Division, tel. +358 50 590 6752


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 2005 the Group’s net sales totalled EUR 91 million. Exel personnel averages 600. Exel’s share is listed in the Mid Cap segment of the OMX Exchange’s Nordic list.