Neste Oil - Company Announcement

Neste Oil to seek synergies by merging two business areas

Neste Oil Corporation
Stock Exchange Release
1 December 2010 at 11.30 a.m. (EET)


Neste Oil to seek synergies by merging two business areas

Neste Oil has decided to reorganize its operations now that its renewable fuels
business is entering a new phase following two major investment projects. The
Oil Products and Renewable Fuels business areas will be merged to create one
business area Oil Products and Renewables. Matti Lehmus, currently Executive
Vice President, Oil Products, has been appointed Executive Vice President, Oil
Products and Renewables. The change will take effect as of 20 December 2010.
Neste Oil's financial reporting will remain unchanged, however. Oil Products and
Renewable Fuels will continue to form separate reporting segments."The reorganization will bring us greater operational efficiency and clear
synergy benefits, which is very much in line with our strategy. By integrating
the businesses, we want to ensure cost efficiency and transparency, and ensure
that we make the best use of our know-how and resources," says Matti Lievonen,
Neste Oil's President and CEO. "In addition, the change will enable us to serve
our customers more effectively by giving them one clear point of contact at
Neste Oil."

Neste Oil has recently commissioned the world's largest renewable diesel plant
in Singapore and is moving towards completion of a similar-sized plant in
Rotterdam, due to come on stream at the end of the first half of 2011.
Completion of these major investments means that renewable fuels-related
activities will shift into a normal business model.

Parallel to the reorganization, Neste Oil's Deputy CEO and Executive Vice
President, Renewable Fuels, Jarmo Honkamaa, will leave the company.


Neste Oil Corporation
Hanna Maula
Director, Corporate Communications


Further information:
Matti Lievonen, President and CEO, tel. +358 (0)10 458 4433


Neste Oil in brief

Neste Oil Corporation is a refining and marketing company concentrating on low-
emission, high-quality traffic fuels. The company is the world's leading
supplier of renewable diesel. Neste Oil's refineries are located at Porvoo and
Naantali in Finland and have a combined crude oil refining capacity of approx.
260,000 bbl/d. The company had net sales of EUR 9.6 billion in 2009, employs
around 5,000 people, and is listed on NASDAQ OMX Helsinki.

Neste Oil is included in the Dow Jones Sustainability World Index and is
featured in the Ethibel Pioneer Investment Register. It has been awarded 'Best
in Class' recognition for its social accountability by the Norwegian bank,
Storebrand, and is on Innovest's Global 100 list of the world's most sustainable
corporations. Forest Footprint Disclosure (FFD) has ranked Neste Oil as the best
performer in the oil & gas sector. Further information:www.nesteoil.com.









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