Vesa Korpimies to be appointed Exel Oyj's new President and CEO

EXEL OYJ STOCK EXCHANGE RELEASE 27.2.2008 at 11.05 1 (1)

VESA KORPIMIES TO BE APPOINTED EXEL OYJ’S NEW PRESIDENT AND CEO

At its meeting today, Exel’s Board of Directors decided to appoint Vesa Korpimies, 46, M.Sc. (Econ.) as Exel Oyj’s President and CEO. He will assume his position on 10 April 2008, when Göran Jönsson, 60, President and CEO, resigns from his position. Exel’s Nomination Committee proposes that Jönsson be nominated member of Exel’s Board of Directors as of the same date. Jönsson has assumed his position of interim President and CEO from 20 November 2006 onwards.

Vesa Korpimies, currently Executive Vice President and Head of Exel Composites, has assumed several positions at Exel since he joined the Company in 1987. He has been responsible for the development of Exel Composites since 1998 during which period sales have increased from about EUR 10 million to above EUR 100 million.

“Vesa Korpimies holds an M.Sc. in Economics and has solid experience of the global composite business. He has been a key contributor to the Group’s development and the Industry Division in particular and has gained extensive experience of the Group’s different business functions. Over the years he has also established a very valuable network within the composite industry”, says Göran Jönsson.

“Vesa Korpimies has been with the Company since 1987. Through its choice of the new President and CEO, the Board of Directors wants to emphasize continued profitable growth and internationalization of the Exel Group”, says Ove Mattsson, the Chairman of Exel’s Board of Directors.


Vantaa, 27 February 2008

EXEL OYJ


Göran Jönsson
President and CEO

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