EXEL OYJ STOCK EXCHANGE RELEASE Decisions of the Annual General Meeting of Exel Oyj Exel's Annual General Meeting held on 19 April 2007: - confirmed a per-share dividend of EUR 0.20 for the financial year 2006, - approved the accounts for 2006 as presented by the Board of Directors, - voted to discharge the members of the Board of Directors and the President and CEO of Exel Oyj from liability for the financial year 2006, and - re-elected the Board of Directors, its Chairman Ove Mattsson and the other board members, Kari Haavisto, Peter Hofvenstam, Vesa Kainu and Esa Karppinen. In addition, the Annual General Meeting approved the proposals of the Board of Directors to: - amend the Articles of Association - authorize the Board of Directors to decide to acquire the Company's own shares, and - authorize the Board to decide on a share issue Composition of the Board of Directors and remuneration According to the decision made in the AGM the number of the members of the Board of Directors are five. Ove Mattsson was re-elected Chairman of the Board. Board members re-elected were Kari Haavisto, Peter Hofvenstam, Vesa Kainu and Esa Karppinen The term of office of Board members lasts until the next Annual General Meeting. The AGM decided that the remuneration of the Chairman of the Board of Directors to be EUR 32,000 per annum and the remuneration of the members of the Board of Directors EUR 14,000 per annum. Moreover, the members of the Board of Directors shall be entitled to the remuneration of EUR 1,500 for the Chairman and EUR 1,000 for the members per Board or Committee meeting and to travel allowances in accordance with the Company's travel rules. Auditor Ernst & Young, certified by the Central Chamber of Commerce, was elected as the auditor of the Company until the end of the next Annual General Meeting. Nomination Committee The Annual General Meeting decided to establish a Nomination Committee of the Annual General Meeting to prepare proposals concerning Board members and their remunerations for the following Annual General Meeting. The Nomination Committee consists of the representatives of the four largest shareholders and of the Chairman of the Board of Directors, acting as an expert member. The shareholders whose share of the total votes of all the shares of the Company is largest on the 1st day of November preceding the AGM have the right to appoint the members representing the shareholders. Should a shareholder not wish to use its right to nominate, this right is passed on to the next largest shareholder. The largest shareholders are determined on the basis of the ownership information registered in the book-entry system. The Nomination Committee is convened by the Chairman of the Board of Directors, and the Committee chooses a chairman from among its own members. The Nomination Committee shall give its proposal to the Board of Directors of the Company at the latest by 1st of February preceding the AGM. Dividend The AGM decided that a dividend of EUR 0.20 per share be paid for the financial year that closed on 31 December 2006. The dividend will be paid to shareholders registered in the Company's shareholder register maintained by the Finnish Central Securities Depository Ltd on the record date for dividend payment, 24 April 2007. The dividend will be paid on 2 May 2007. Exel Oyj Board of Directors Göran Jönsson President & CEO Further information: Göran Jönsson, President and CEO, Exel Oyj, tel. +46 708 43 0110 Ilkka Silvanto, CFO, Exel Oyj, tel. +358 50 598 9553 DISTRIBUTION Helsinki Stock Exchange Main news media www.exel.net EXEL IN BRIEF Exel Oyj is a leading, international Group specialised in composite technology, with a special focus on pultrusion, pull-winding and continuous lamination. The Group's operations include design, manufacturing and marketing of advanced composite products for industrial applications and consumer goods. Exel's most well-known consumer products include cross-country, alpine and Nordic Walking poles, floorball sticks, antenna radomes and other industrial applications. In 2006 the Group's net sales totalled EUR 112 million. Exel personnel averages 550. Exel's share is listed in the Mid Cap segment of the OMX Exchange's Nordic list.