Elektrobit Oyj - Company Announcement

RESOLUTIONS BY EB, ELEKTROBIT CORPORATION'S ANNUAL GENERAL MEETING OF SHAREHOLDERS

STOCK EXCHANGE RELEASE

Free for publication on 19 March 2009 at 3.30 pm (CET+1)

RESOLUTIONS BY EB, ELEKTROBIT CORPORATION'S ANNUAL GENERAL MEETING OF
SHAREHOLDERS

EB, Elektrobit Corporation's  Annual General Meeting  was held on  19
March 2009 at 1 pm at  the University of Oulu, Saalastinsali,  Pentti
Kaiteran katu 1, 90570 Oulu, Finland. The General Meeting adopted the
annual accounts  for  the  financial year  2008  and  discharged  the
members of the Board of Directors and the CEO from liability.

Payment of dividend

The General Meeting decided  in accordance with  the proposal of  the
Board of Directors that no dividend shall be distributed.

Composition and remuneration of the Board of Directors

The General  Meeting fixed  the number  of members  of the  Board  of
Directors to six (6).  Mr. Jorma Halonen, Mr.  Jukka Harju, Mr.  Juha
Hulkko,  Mr.  Seppo  Laine,  Mr.   Staffan  Simberg  and  Mr.   Erkki
Veikkolainen were elected members of the Board of Directors. The term
of office of the members of the Board of Directors expires at the end
of the next Annual General Meeting.

At its assembly meeting held on 19 March 2009, the Board of Directors
has elected Mr. Juha Hulkko Chairman of the Board.

The General Meeting decided that the remuneration for the Chairman of
the Board shall be EUR 2,500 per month and that the remuneration  for
the other members of  the Board of Directors  shall be EUR 2,000  per
month. The travel expenses of the  members of the Board of  Directors
shall be reimbursed in accordance with the company's travel policy.

Election and remuneration of the auditor

The General  Meeting elected  Ernst &  Young Oy,  an auditing  entity
authorized by  the  Central  Chamber  of  Commerce,  Auditor  of  the
company. The remuneration for the  auditor shall be paid against  the
auditor's reasonable invoice.

Amendment of the Articles of Association

The General Meeting decided  in accordance with  the proposal of  the
Board of Directors to amend section 7 of the Articles of  Association
of the  company  so that  notice  to  the General  Meeting  shall  be
delivered three weeks before the  General Meeting, at the latest,  by
publishing it on the company's website  or in one or more  newspapers
decided by the Board of Directors or by delivering the notice to each
shareholder by  a  letter  posted  to the  address  reported  by  the
shareholder in the shareholders register.

Authorizing the Board of Directors to decide on the repurchase of own
shares

The General Meeting decided  to authorize the  Board of Directors  to
decide on the repurchase of the company's own shares as follows.

The  amount  of  own  shares  to  be  repurchased  shall  not  exceed
12,500,000 shares, which corresponds  to approximately 9.66 per  cent
of all of the shares in the company. Only the unrestricted equity  of
the company can be used to repurchase own shares on the basis of  the
authorization.

Own shares can be repurchased at a price formed in public trading  on
the date of  the repurchase  or otherwise at  a price  formed on  the
market.

The Board of Directors  decides how own  shares will be  repurchased.
Own shares can  be repurchased  using, inter  alia, derivatives.  Own
shares can  be  repurchased  otherwise  than  in  proportion  to  the
shareholdings of the share-holders (directed repurchase).

The authorization  cancels the  authorization  given by  the  General
Meeting on 14 March 2008 to decide on the repurchase of the company's
own shares.

The authorization is effective until 30 June 2010.

Authorizing the  Board of  Directors  to decide  on the  issuance  of
shares as well as  the issuance of options  and other special  rights
entitling to shares

The General Meeting decided  to authorize the  Board of Directors  to
decide on the issuance of shares  as well as the issuance of  options
and other special rights entitling  to shares referred to in  chapter
10 section 1 of the Companies Act as follows.

The amount of shares to be issued shall not exceed 25,000,000 shares,
which corresponds  to approximately  19.32  per cent  of all  of  the
shares in the company.

The Board of Directors decides on all the conditions of the  issuance
of  shares  and   of  special   rights  entitling   to  shares.   The
authorization concerns both the issuance of new shares as well as the
transfer of treasury shares.  The issuance of  shares and of  special
rights entitling to shares may be  carried out in deviation from  the
shareholders' pre-emptive rights (directed issue).

The authorization  cancels the  authorization  given by  the  General
Meeting on 14 March 2008 to decide on the issuance of shares as  well
as the  issuance of  options and  other special  rights entitling  to
shares.

The authorization is effective until 30 June 2010.


Oulu, March 19, 2009

Elektrobit Corporation
The Board of Directors


Further information:

Outi Torniainen
Director, Communications and Marketing
Tel. +358 40 512 1375

Päivi Vasankari
Chief Legal Officer
Tel. +358 40 344 2794


Attachment:
Articles of Association


Distribution:
NASDAQ OMX Helsinki
Principal Media


EB, Elektrobit Corporation
EB develops advanced technology and transforms it into enriching end
user experiences. EB specializes in demanding embedded software and
hardware solutions for the automotive industry and wireless
technologies. The company's net sales for the year 2008 totaled EUR
172.3 million. Elektrobit Corporation is listed on NASDAQ OMX
Helsinki. www.elektrobit.com

Attachments:

Articles of Association.pdf