Incap - Major shareholder announcements

Incap Oyj :Announcement in accordance with Chapter 9, Section 10 of the Finnish Securities Markets Act (Incap's directed share issue and conversion of loans)

Incap Corporation       Stock Exchange Release
22 July 2013 at 9 a.m.

ANNOUNCEMENT IN ACCORDANCE WITH CHAPTER 9, SECTION 10 OF THE FINNISH SECURITIES
MARKETS ACT (INCAP'S DIRECTED SHARE ISSUE AND CONVERSION OF LOANS)


Following the directed share issue and conversion of loans as announced by Incap
Corporation on 22 July 2013, the following changes in holdings exceeding the
notification limit will take effect.

The changes in holdings are estimated to come into effect during week 30, when
the new shares subscribed in the directed issue or converted against loans are
entered in the Trade Register.

After the registration of the new shares, the total number of Incap
Corporation's shares and votes will be 109,114,035. It is estimated that the new
shares will be available for trade at the NASDAQ OMX Helsinki Ltd by the end of
August together with the other shares of the company.

Company: Incap Corporation, Business ID 0608849-6

Changes to holdings exceeding the announcement limit as proportions of the total
shares and votes in Incap Corporation:


+--------------------+-----------+------------------+------------+-------------+
|                    |           |                  |New shares  |Holdings     |
|                    |           |Holdings prior to |subscribed  |after the    |
|Shareholder         |Business ID|the share issue   |and         |share issue  |
|                    |           |                  |converted   |and          |
|                    |           |                  |            |conversion   |
+--------------------+-----------+------+-----------+------------+-------------+
|                    |           |     %|     shares|      shares|            %|
+--------------------+-----------+------+-----------+------------+-------------+
|Inission AB         |556747-1890|     0|          0|  28,500,000|       26.12%|
+--------------------+-----------+------+-----------+------------+-------------+
|Oy Etra Invest Ab   |  0672234-6|21.44%|  4,834,547|  12,100,000|       15.52%|
+--------------------+-----------+------+-----------+------------+-------------+
|Ilmarinen           |  0107638-1|     0|          0|   8,307,692|        7.61%|
+--------------------+-----------+------+-----------+------------+-------------+
|Varma               |  0533297-9|     0|          0|   7,684,615|        7.04%|
+--------------------+-----------+------+-----------+------------+-------------+
|Finnvera            |  1484332-4|     0|          0|   6,238,600|        5.72%|
+--------------------+-----------+------+-----------+------------+-------------+
|Oy Ingman Finance Ab|  2241895-0|     0|          0|   8,780,769|        8.05%|
+--------------------+-----------+------+-----------+------------+-------------+
|Onvest Oy           |  0112239-2| 7.53%|  1,697,286|   3,500,000|        4.76%|
+--------------------+-----------+------+-----------+------------+-------------+
|JMC Finance Oy      |  1031747-4|10.65%|  2,402,286|           0|        2.20%|
+--------------------+-----------+------+-----------+------------+-------------+
|Suomen              |  1007806-3|      |           |            |             |
|Teollisuussijoitus  |           |      |           |            |             |
|Oy                  |           | 9.69%|  2,185,509|           0|        2.00%|
+--------------------+-----------+------+-----------+------------+-------------+
|Göran Sundholm      |          -| 6.57%|  1,481,113|           0|        1.36%|
+--------------------+-----------+------+-----------+------------+-------------+
|Kalevi Laurila      |          -| 6.48%|  1,460,429|   1,275,000|        2.51%|
+--------------------+-----------+------+-----------+------------+-------------+



INCAP CORPORATION
Hannele Pöllä

Director, Communications and Investor Relations
tel. +358 40 504 8296

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
The company's home page www.incap.fi

INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose
comprehensive services cover the entire life cycle of electromechanical products
from design and manufacture to repair and maintenance services. Incap's
customers include leading equipment suppliers in energy-efficiency and well-
being technologies, for which the company produces competitiveness as a
strategic partner. Incap has operations in Finland, Estonia, India and China.
The Group's revenue in 2012 amounted to approximately EUR 64.1 million, and the
company currently employs approximately 600 people. Incap's share is listed on
the NASDAQ OMX Helsinki Ltd. since 1997. Additional information: www.incap.fi.

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