Neste Oil - Company Announcement

Neste Oil to build a NExBTL renewable diesel plant in Rotterdam

Neste Oil is to build an 800,000 t/a plant to produce NExBTL
renewable diesel in Rotterdam in the Netherlands. Construction will
start immediately and the facility is scheduled to be completed in
2011. Total cost of the investment is projected to be €670 million.
Neste Oil announced its decision to go ahead with a similar-sized
plant in Singapore in November 2007. Both plants are linked to Neste
Oil's goal of becoming the world's leading producer of renewable
diesel fuel.

NExBTL renewable diesel is based on Neste Oil's proprietary
technology, which can use a wide range of raw materials. In its plant
in Finland, the company currently uses a mix of palm oil, rapeseed
oil, and animal fat to produce renewable diesel. Offering excellent
product quality - even better than fossil diesel - NExBTL can be used
in all diesel engines.

Neste Oil has a major R&D program under way to develop new renewable
raw materials for fuel production, and is working towards a target of
completely non-food raw material use by 2020. Neste Oil is
cooperating with over 20 universities and research institutions
globally as part of this program, which is divided into six areas,
including non-food vegetable oil, wood-based materials, and algae.

NExBTL has excellent environmental properties. It offers 40-60% lower
greenhouse gas emissions over its entire lifecycle compared to
conventional fossil diesel. NExBTL also reduces tailpipe emissions
and contributes to better air quality.

Excellent location

The plant is to be built in the Maasvlakten area in the western part
of the Port of Rotterdam. Its location close to other chemicals
plants will offer a number of synergy opportunities with other
facilities. Nearby plants will supply Neste Oil with utilities."Rotterdam is Europe's largest center of petroleum products and
chemicals production, and offers a wide range of dedicated services,
as well as port facilities - all of which makes Rotterdam an ideal
location for a NExBTL plant," according to Neste Oil's President &
CEO Risto Rinne.

The plant will employ around 100 permanent employees when completed.

Working with the same partners

Neste Oil will work with the same key partners in Rotterdam that it
selected for its project in Singapore. Technip Italy will act as the
project's main contractor and Air Liquide will supply the hydrogen
required by the process.

Neste Oil Corporation

Osmo Kammonen
Senior Vice President, Corporate Communications


Further information:
Mr. Jarmo Honkamaa, Deputy CEO and Executive Vice President,
Renewable Fuels, tel. +358 (0) 50 458 4758
Mr. Simo Honkanen, Vice President, Renewable Fuels, tel. +358 (0) 50
458 4170

News conference
A press conference in Finnish will be held today, 13 June 2008, at
11:00 am EET at Neste Oil headquarters, Keilaranta 21, Espoo.

Mr. Simo Honkanen's video statement will be available at the
Newsmarket media service at
http://br.thenewsmarket.com/nesteoil/br/Login/LoginPreRegistration.aspx


Neste Oil in brief
Neste Oil Corporation is a refining and marketing company
concentrating on low-emission, high-quality traffic fuels. The
company's strategy is based on growing both its oil refining and
premium-quality renewable diesel businesses. Neste Oil's refineries
are located in Porvoo and Naantali and have a combined crude oil
refining capacity of approx. 260,000 barrels a day. The company had
net sales of €12,103 million in 2007 and employs around 5,100 people;
and is listed on the Nordic Stock Exchange in Helsinki.
www.nesteoil.com.

NExBTL in brief
NExBTL renewable diesel is an advanced fuel based on renewable raw
materials that performs more efficiently and has a lower level of
environmental impact than fossil diesel or FAME-type biodiesel. Neste
Oil requires its raw material suppliers to observe a responsible
approach to sustainability. Feedstock of this type ensures that
NExBTL renewable diesel has a 40-60% lower level of greenhouse gas
emissions over its entire lifecycle compared to fossil diesel. NExBTL
renewable diesel can be blended with conventional diesel fuel or used
as such, and is suitable for all diesel engines.

Neste Oil is the leader in renewable diesel production. The
company's  first NExBTL facility was commissioned in Finland at Neste
Oil's Porvoo refinery in summer 2007. Second facility is due to come
on stream there in 2009. They both have a capacity of 170 000 t/a. In
addition Neste Oil is building 800 000 t/a plants in Singapore and
Rotterdam. Singapore facility is due to be completed by the end of
2010 and Rotterdam facility in 2011.