Exel Oyj concluded co-determination negotiations

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| Source: Exel Composites Oyj
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EXEL OYJ		STOCK EXCHANGE RELEASE 22.2.2008 at 13.45	1 (1)

EXEL OYJ CONCLUDED CO-DETERMINATION NEGOTIATIONS

Exel Oyj's co-determination negotiations were concluded on 22 February 2008.
The negotiations were based on operative and financial needs of improving the
profitability of the Mäntyharju factory which is a part of Exel Oyj's Industry
Division, also known as Exel Composites. The operations will be adjusted in
line with, among other things, Exel Composites' Sport and Leisure market
segment's demand at the factory in question. 

The negotiations were based on the employer's negotiation proposal. The
estimated personnel reduction requirement regarding permanent personnel was a
maximum of 12 non-salaried employees. The negotiations also regarded temporary
layoffs of a maximum of 12 non-salaried employees and layoffs of a maximum of 5
salaried employees. As a result of the negotiations, the amount of employment
contracts to be terminated is 13. From contracts to be terminated in March
2008, 10 are for non-salaried employees and 3 for salaried employees. In
addition, the job descriptions of 3 salaried employees will be changed to be in
line with the new situation. 

Furthermore, Exel gives 12 non-salaried employees a notice of a temporary
layoff. The notice starts on 1 March 2008 and ends on 28 February 2009 at the
latest. 

After the layoffs the factory's staff will consist of 59 persons including both
non-salaried and salaried employees. 


Vantaa, 22 February 2008 

EXEL OYJ


Göran Jönsson
President and CEO

Further information:
Mr. Vesa Korpimies, Executive Vice President, Exel Oyj, tel. +358 50 590 6754,
or email vesa.korpimies@exel.net