2007-10-31 08:30:00 CET

2007-10-31 08:30:00 CET


REGULATED INFORMATION

English Finnish
Marimekko - Company Announcement

MIKA IHAMUOTILA BECOMES PRESIDENT AND CEO AS WELL AS PRINCIPAL SHAREHOLDER OF MARIMEKKO


The Board of Directors of Marimekko Corporation has today elected Mr Mika       
Ihamuotila, PhD (Econ), 43, as President and CEO of the company as of February  
1, 2008. However, he will promptly start to prepare the future development of   
the company.                                                                    

Kirsti Paakkanen and Mika Ihamuotila have also informed the Board of a major    
change in ownership of Marimekko. Workidea Oy, which is the largest shareholder 
of Marimekko and a holding company owned by Kirsti Paakkanen, will today sell   
804,000 shares in Marimekko (10,00% of outstanding shares) to Muotitila Ltd, a  
holding company owned by Mika Ihamuotila. In addition, Workidea has committed to
sell the rest of its shares (another 804,000 shares) to Muotitila Ltd. Muotitila
has the right to acquire these shares at its choice before the end of the year  
2008. However, the voting rights of all shares (20,00% of outstanding shares)   
will be transferred to Muotitila already today in all ordinary issues which are 
specified as belonging to the shareholders' meeting.                            

In addition, the second largest shareholder of Marimekko (4.34%), Varma Mutual  
Employment Pension Insurance Company and Mika Ihamuotila have informed the Board
that Varma will sell 241,200 shares in Marimekko (3,00% of outstanding shares)  
to Muotitila. After the transaction, Varma's share of Marimekko Corporation's   
share capital and voting rights will decrease to 1.34%.                         

Matti Kavetvuo, Chairman of the Board:                                          
“Mr Mika Ihamuotila has a very strong capacity to take Marimekko to an entirely 
new development phase. As the president and CEO of Mandatum Bank Plc, he        
succeeded in turning around the previous Interbank and made it a flourishing    
company. As the president and CEO of Sampo Bank Plc he turned around the        
previous Leonia Bank into an exceptionally profitable and valuable company and, 
at the same time, internationalized the bank. In both of these positions, he    
created an inspiring corporate culture, built an attractive consumer brand and  
continuously broke traditional ways of doing things within the industry.”       

Kirsti Paakkanen, President and CEO:                                            
“I am really happy that in Mika Marimekko gets a committed owner and leader.    
Mika possesses a rare combination of strong corporate leadership and creativity.
I simply cannot think of a better captain for the company and I trust he has got
what it takes to develop Marimekko further. Mika has asked me to assist him and 
the company even after he takes charge. I want to do this from all my heart.”   

Mika Ihamuotila:                                                                
“Marimekko is a ‘pearl'. Its unique style has loyal admirers in several         
countries. However, I think the company could be much, much more. It is my aim  
to start building Marimekko into a cult brand within clothing, interior         
decoration and lifestyle as well as a company that has an international retail  
distribution network, a passionate staff and a market value multifold from      
today. That's my dream. I believe that together with Marimekko's staff we can   
succeed in it within the next 10 years.”                                        

A briefing for media and analysts will be held today, October 31, 2007, in      
Marimekko's flagship store Kämp Galleria Shopping Mall, Pohjoisesplanadi 31,    
Helsinki, at 1.30 p.m.. Kirsti Paakkanen, Mika Ihamuotila and Matti Kavetvuo    
will be present.                                                                

Helsinki, 31 October 2007                                                       

MARIMEKKO CORPORATION                                                           
Board of Directors                                                              


MARIMEKKO CORPORATION                                                           
Group Communications                                                            

Marja Korkeela                                                                  
Tel.    +358 9 758 7238                                                         
Fax:    +358 9 759 1676                                                         
E-mail: marja.korkeela@marimekko.fi                                             

Distribution:                                                                   
OMX Nordic Exchange Helsinki                                                    
Principal media                                                                 
Marimekko's website, www.marimekko.com                                          

Marimekko Corporation is a leading Finnish textile and clothing design company  
that was established in 1951. The company designs, manufactures and markets     
high-quality clothing, interior decoration textiles, bags and other accessories 
under the Marimekko brand, both in Finland and abroad. In 2006, the company's   
net sales amounted to EUR 71.4 million. Exports and income from international   
operations accounted for 25% of the Group's net sales. Licensing has been a part
of Marimekko's operations in Finland and abroad since 1960s. The Group employs  
about 400 people. The company's share is quoted on the OMX Nordic Exchange      
Helsinki. www.marimekko.com