Huhtamäki Oyj - Company Announcement

Huhtamäki Oyj's new performance share incentive plan

HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 14.2.2008 at 8:35

The Board  of  Directors  of  Huhtamäki Oyj  has  decided  on  a  new
performance share incentive plan to form a part of the incentive  and
commitment program  for the  key  personnel of  the company  and  its
subsidiaries.

The performance share incentive plan offers a possibility to earn the
company's shares as  remuneration for  achieving targets  established
for the earnings criteria. The  plan includes three earnings  periods
which are calendar years 2008, 2009 and 2010. A possible remuneration
shall be  paid  during  the calendar  year  following  each  earnings
period. The aggregate maximum  of 720,000 shares  and a cash  payment
equivalent to taxes arising from the reward to the key personnel  may
be granted  under the  plan. As  the cash  proportion of  the  reward
shall, however, be  paid an  amount equivalent  to the  value of  the
distributable shares at the maximum. The plan requires a receiver  to
own the shares  at least two  years following the  grant. A  receiver
must also after the restriction period continue to own the shares  at
least in an amount equivalent to  the value of 50% of his/her  annual
gross salary, for a period lasting until the end of the employment or
service.

The remuneration from the plan for  the earnings period 2008 will  be
based on the Group's key figures Earnings per Share (EPS) and  Return
on Investment  (ROI). The  potential remuneration  from the  earnings
period 2008 will be paid in 2009.

Upon establishment, the plan is directed to approximately 20 persons.

Enquiries: Mr. Timo Salonen, CEO, Tel. +358(0)10 686 7880


HUHTAMÄKI OYJ
Group Communications