Proposals by Exel's Nomination Committee to the AGM

EXEL OYJ STOCK EXCHANGE RELEASE 27.2.2008 at 11.20 1 (1)

PROPOSALS BY EXEL’S NOMINATION COMMITTEE TO THE AGM

Exel’s Nomination Committee, proposes to the Annual General Meeting to be held on 10 April 2008 that the number of the Board members remain at the current five and that Kari Haavisto, Peter Hofvenstam and Vesa Kainu be re-elected to the Board until the end of the next Annual General Meeting. The Nomination Committee further proposes that Göran Jönsson, M.Sc. (Econ.), born 1947, and Heikki Mairinoja, M.Sc. (Eng.) and B.Sc. (Econ.), born 1947, be elected as new members to the Board.

Göran Jönsson is Swedish citizen and currently Exel Oyj’s President and CEO. Heikki Mairinoja was formerly Oy G.W. Sohlberg Ab’s CEO and Uponor Group’s CEO.

The Nomination Committee further proposes that Peter Hofvenstam be elected as the Chairman of the Board.

Said candidates have given their consent to the election.

Ove Mattsson and Esa Karppinen were no longer available for re-election.

The Nomination Committee proposes that the annual remuneration for the Board members be unchanged, i.e. the Chairman of the Board of Directors be paid a yearly remuneration of EUR 32,000 and additionally EUR 1,500 for attendance at Board and committee meetings and other similar Board assignments and the other Board be paid a yearly remuneration of EUR 14,000 and additionally EUR 1,000 for attendance at Board and committee meetings and other similar Board assignments. The Nomination Committee also proposes that travel expenses and other out-of-pocket expenses arising from the Board work be compensated in accordance with the Company’s established practice and travel rules.

The proposals are supported by shareholders with more than 40% of the shares in Exel.


Vantaa, 27 February 2008

EXEL OYJ


Board of Directors


Further information:
Mr. Göran Jönsson, President and CEO, Exel Oyj, tel. +46 708 430 110, or email goran.jonsson@exel.fi