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RAISIO NUTRITION'S CODETERMINATION TALKS

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Raisio Group plc         Stock Exchange Release
                         10 December 2003 at 10.15 Finnish time


RAISIO NUTRITION’S CODETERMINATION TALKS ARE CONCLUDED IN FINLAND
Grain Starch Business to be closed down

Raisio Group’s business area Raisio Nutrition has concluded the
codetermination talks with its white- and blue-collar employees in
Finland. These negotiations were necessary in order to seek ways
of improving efficiency and reorganising operations. The loss-
making Grain Starch Business will be closed down at the end of
August 2004. Most of the 38 employment contracts involved will
remain in force until that time. The company has been able to
offer some employees new jobs inside Raisio Nutrition.

In addition to the Grain Starch employees, Raisio Nutrition will
also be cutting another 79 jobs. The biggest cuts will be in the
Raisio plant area. A reduction of 5 employees will take place at
Nokia and 5 at Vihanti. Part of the personnel reductions can be
achieved through natural attrition, non-renewal of temporary
contracts, and pension arrangements. Redundancy notices will be
issued to 46 people.

The total number of Raisio Nutrition employees in Finland is 980.
Through this rationalisation Raisio Nutrition will achieve an
annual cost saving of approximately 5 million euros. In 2004 the
cost savings are estimated at 2 million euros. Closing down the
Grain Starch Business will produce a one-off cost of approximately
2.0 million euros, for which a provision will be made in the
annual accounts for 2003.

To improve the operational efficiency of Raisio’s occupational
health services and to guarantee their future development, Raisio
Group has decided to transfer all its Corporate Health Care
Services in Finland to the corporate healthcare provider
Mehiläinen from February 1st, 2004. Mehiläinen will retain
Raisio’s former medical personnel, who will be employed on the
terms of their existing employment contract.

Besides the codetermination talks in Finland, Raisio Nutrition is
also conducting codetermination talks concerning margarine
business and closing down the margarine plant in Sweden. The
codetermination talks in Sweden concern approximately 40
employees.

RAISIO GROUP PLC

Merja Lumme
Executive Vice President, Human Resources

Further information:
Olavi Kuusela
Managing Director, Raisio Nutrition Ltd.
tel. +358 2 443 2530 or +358 50 502 4995
Merja Lumme
Executive Vice President, Human Resources, Raisio Group
tel. +358 2 443 2230 or +358 40 528 0448

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