Aspocomp Group - Company Announcement

THE FINANCIAL EFFECTS OF THE PARTNERSHIP AGREEMENT CONCLUDED BETWEEN ASPOCOMP GROUP OYJ AND MEADVILLE HOLDINGS LIMITED

Aspocomp Group Oyj   Company Announcement  November 15, 2007 at 11:10
am

Aspocomp Group Oyj has on 8 November 2007 given a stock exchange
release according to which it will contribute its shareholdings in
its subsidiaries in China and India as well as certain equipment from
its Salo plant to a new holding company and sell 80 percent of the
shares of the holding company to Meadville Holdings Limited or its
subsidiary.

In addition, Aspocomp Group Oyj and Meadville Holdings Limited have
agreed that Aspocomp Group Oyj will sell 10 percent of the shares of
Aspocomp Oulu Oy to Meadville Holdings Limited. The consideration for
the shares is approximately EUR 1.8 million.

Meadville Holdings Limited will pay about EUR 61 million to Aspocomp
Group Oyj for its 80 percent holding in the holding company. Aspocomp
Group Oyj will use about EUR 40 million of this consideration to
repay its loan to Standard Chartered Bank in full and about EUR 8
million to repay the working capital facilities of its Chinese
subsidiary. The balance of the consideration will be used to
partially repay the Aspocomp Group's interest bearing liabilities in
Finland and to improve its liquidity.

Following the transaction, Aspocomp Group Oyj's assets would comprise
a holding of 20 percent in the new holding company, a holding of 90
percent in Aspocomp Group Oyj's subsidiary Aspocomp Oulu Oy, a
holding of about 87 percent in Aspocomp Group Oyj's Thai subsidiary,
a holding of about 15 percent in Imbera Inc and real estates in Salo
and Oulu.

After the transaction and the repayment of the loans as specified
above, the major liabilities of the Aspocomp Group would amount to
about EUR 57 million and the equity ratio of the Group would be
expected to be approximately 12 percent. The aggregate amount of
debts of the Group would still exceed the book value of its assets.
It is estimated that after the transaction and the repayment or
partial repayment of the above referred loans, Aspocomp Group Oyj's
turnover in 2008 would be approximately EUR 40 million and the EBITDA
would be positive. The financial position of the Group and the
liquidity of Aspocomp Group Oyj would remain weak.

Aspocomp is negotiating with Finnish banks about debt restructuring
agreement to reorganize its liabilities.

As the majority shareholder of the joint venture, Meadville Holdings
Limited would be the main responsible for running its business
operations. The intention is to develop and rationalize the joint
venture's operations and subsidiaries.

Aspocomp Group Oyj has been informed that Meadville Holdings Limited
will issue a stock exchange release in the near future as regards the
transaction pursuant to the rules of the Stock Exchange of Hong Kong
Limited. After Meadville has issued the referred stock exchange
release, Aspocomp will issue the same release.

The agreement with Meadville Holdings Limited is subject to, among
other things, the approval of the Extraordinary General Meeting of
Aspocomp Group Oyj and to the approval of the shareholders of
Meadville Holdings Limited.

For further information, please contact CFO Pertti Vuorinen,
tel. +358 9 7597 0715.

ASPOCOMP GROUP OYJ



Isto Hantila
President and CEO


Distribution:
The Nordic Exchange
Major media
www.aspocomp.com