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VALIO AND RAISIO TO START RESEARCH CO-OPERATION

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Raisio plc    Press Release 13 November 2006 at 10.30 a.m. Finnish time


Finnish nutrition cluster kicks off
VALIO AND RAISIO TO START RESEARCH CO-OPERATION

Finland's largest dairy company Valio Ltd and the country's leading producer of
grain based and vegetable oil based foods, Raisio plc, will commence research co-
operation in e.g. the field of nutrition. This development lends support to the
goal of the Finnish National Fund for Research and Development (Sitra) Food and
Nutrition Programme (ERA) to make Finland a competitive forerunner in the
development of healthy nutrition and a top expert in food research. Research co-
operation will kick off in November with the first planning meetings.

The companies have not as yet agreed on any specific projects for co-operation,
but the goal is to combine Valio's knowledge of the nutrients and other
components of milk with Raisio's expertise in grains and fats. Animal feeding
falls within the scope of the research co-operation, too. Joint basic research
will mean value added for both companies' product development, which they will
continue to perform independently.

Both Valio and Raisio have long traditions of investment in the development of
healthy foods. Valio is one of the world's leading developers of functional foods
and low fat products, and has developed wholly lactose free fresh dairy products.
Raisio has invested in the development of high fibre products, products
containing rapeseed and camelina oil, soy-based products, and products that lower
cholesterol.

"Valio is delighted to have this opportunity to promote co-operation and research
expertise within Finnish industry. Raisio, like Valio, conducts high-quality
research, and together we can achieve results in some areas more cost-efficiently
than either company could do alone. I believe that the fruits of this co-
operation will also benefit consumers through tasty and wholesome products",
stresses Harry Salonaho, President and CEO of Valio Ltd.

"Raisio and Valio have a history of positive co-operation in areas such as the
extension of the cholesterol-lowering Benecol product family in the Finnish
market. Deeper research co-operation will enable the creation and
commercialisation of new Finnish food innovations on the international stage,
too", says Rabbe Klemets, CEO of Raisio plc.


Further information:
Harry Salonaho, President and CEO, Valio Ltd, Tel. +358 10 381 2001
Rabbe Klemets, CEO, Raisio plc, Tel. +358 400 821 614



See also Sitra's press release dated 13 November 2006 concerning the nutrition
cluster to be assembled within the Food and Nutrition Programme (ERA).
www.sitra.fi

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