Purchase and surrender of corporation shares

PURCHASE AND SURRENDER OF CORPORATION SHARES The Board of Directors of Kyro Corporation decided on May 15, 2001 to propose to the Extraordinary Shareholders Meeting (ESM) to be held on June 12, 2001 that the Board shall be authorized to take decisions regarding the purchase and surrender of Corporation shares. Authorization to purchase Corporation shares The Board of Directors of Kyro Corporation will propose to the Extraordinary Shareholders Meeting that the ESM shall authorize the Board to decide the purchase of Corporation shares using funds available for the allocation of Corporation profits. Under the proposal, the Board would be authorized to purchase Corporations shares to a maximum combined value equivalent to 5% of the Corporation's share capital at the time of purchase. The intention is for the authorization to be valid for period of one year from the decision taken by the Extraordinary Shareholders Meeting. Under the terms of the proposal, the Board would have the authority to purchase Corporation shares for use by the Corporation as payment in possible future acquisitions or to fund investments. Such purchases of Corporation shares would be implemented in accordance with a Board decision, either through a purchase offer made to all shareholders on identical terms in proportion to the shares held by shareholders and at identical price decided by the Board, or at the price determined by a public trading as defined under the Securities Market Act on the day of purchase. In all other respects, the Board shall decide the implementation of any purchase of Corporation shares. Authorization to surrender Corporation shares The Board of Directors of Kyro Corporation also proposes that the Extraordinary Shareholders Meeting shall authorize the Board to decide the surrender of such shares as acquired on the basis of the purchase authorization described above. Under this proposal, the Board would be authorized to decide to whom and in which order the Corporation's shares could be surrendered. The proposal would authorize the Board to surrender corporation shares as payment in possible future acquisitions or to finance investments. In line with the authorization to purchase Corporation shares, the authorization to surrender Corporation shares would be valid for one year form the decision taken by the Extraordinary Shareholders Meeting. For further information, please contact Kyro Corporation's Chief Financial Officer, Veli Kronqvist on +358 3 372 3105. Helsinki 15 May, 2001 KYRO OYJ ABP Veli Kronqvist Arja Louhimo Chief Financial Officer Group Controller Distribution Helsinki Exchanges Key media ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/16/20010516BIT00070/bit0002.doc