Inion Oyj - Company Announcement

Payment of Non-executive Directors' Fees in Shares

Inion Oy                                     
                           (“Inion or “the Company”)                            

               Payment of Non-executive Directors' Fees in Shares               

Tampere, Finland and Guildford, UK. 8 October 2007…Inion [LSE: IIN.L], a company
focused on the development of novel biodegradable medical implants, announces   
that its Non-executive Directors have agreed to receive 50% of their cumulative 
directors' fees in Inion shares. The first tranche of shares in lieu of fees is 
being issued today and is in respect of the quarter ended 30 June 2007. The     
share price of 40.75p was based on the closing mid-point share price on 19      
September 2007. This was the date of the Interim announcement and the first day 
of the open period.                                                             

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| Non-executive  |   No. of    | Share price |     Total      | Percentage of  |
| Director       |  ordinary   |   (pence)   | share-holding  | current issued |
|                |  shares of  |             |   following    | share capital  |
|                |  0.03 Euro  |             |     issue      |                |
|                |   issued    |             |                |                |
--------------------------------------------------------------------------------
| Göran Ando     |   10,005    |   40.75p    |     85,005     |     0.113%     |
--------------------------------------------------------------------------------
| Peter Allen    |    7,004    |   40.75p    |     7,004      |     0.009%     |
--------------------------------------------------------------------------------
| David Anderson |    6,003    |   40.75p    |     6,003      |     0.008%     |
--------------------------------------------------------------------------------
| Jim Beery      |    6,504    |   40.75p    |     6,504      |     0.009%     |
--------------------------------------------------------------------------------
| Peter Jensen   |    7,004    |   40.75p    |     7,004      |     0.009%     |
--------------------------------------------------------------------------------
| Markku Silén   |    6,504    |   40.75p    |     6,504      |     0.009%     |
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In the future, Inion ordinary shares will be issued to its Non-executive        
Directors in lieu of fees regularly on a quarterly basis and market value for   
the calculation will be taken as the closing mid-point share price on the last  
working day of each quarter ended March, June, September and December. Shares   
will be issued as soon as practicable after each quarter end, and the related   
tax payable will be withheld from the remaining 50% cash payment in each        
quarter.                                                                        
	                                                                               
                                     -Ends-                                     

For further information, please contact:                                        
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| Inion Oy                                   | Tel: +44 (0)1483 685390         |
| Chris Lee, Chief Executive                 |                                 |
| Officer                                    |                                 |
| Julien Cotta, Chief Financial              |                                 |
| Officer                                    |                                 |
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| Citigate Dewe Rogerson                     | Tel: +44 (0)207 638 9571        |
| Mark Swallow /                             |                                 |
| David Dible                                |                                 |
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About Inion (www.inion.com)                                                     
Inion Oy is a medical devices company focused on the development and successful 
commercialisation of innovative and unique biodegradable and bioactive surgical 
implants in selected high-value orthopaedic market segments.                    

Inion's core expertise and technology lies in the design and manufacture of     
innovative biodegradable plates, screws, pins and membranes, which are used to  
enhance the healing of bone or soft tissue injuries to the skeleton, such as    
those caused by trauma or by reconstructive surgery. Inion implants are made    
from its proprietary Inion Optima™ family of biomaterials, with properties      
tailored for specific surgical applications, in terms of strength, flexibility  
and rate of degradation.                                                        
Inion is also focused on developing proprietary new bioactive and biodegradable 
biomaterials that promote bone healing and accelerate patient rehabilitation.   

Inion was incorporated in early 2000 and listed on the Official List of the UK  
Listing Authority in December 2004. The Company has an office and an R&D        
facility in the UK and head office, R&D and production facilities in Tampere,   
Finland.                                                                        

This announcement includes "forward-looking statements" which include all       
statements other than statements of historical facts, including, without        
limitation, those regarding the Group's financial position, business strategy,  
plans and objectives of management for future operations (including development 
plans and objectives relating to the Group's products), and any statements      
preceded by, followed by or that include forward-looking terminology such as the
words "targets", "believes", "estimates", "expects", "aims", "intends", "will", 
"can", "may", "anticipates", "would", "should", "could" or similar expressions  
or the negative thereof. Such forward-looking statements involve known and      
unknown risks, uncertainties and other important factors beyond the Group's     
control that could cause the actual results, performance or achievements of the 
Group to be materially different from future results, performance or            
achievements expressed or implied by such forward-looking statements. Such      
forward-looking statements are based on numerous assumptions regarding the      
Group's present and future business strategies and the environment in which the 
Group will operate in the future. Among the important factors that could cause  
the Group's actual results, performance or achievements to differ materially    
from those in forward-looking statements include those relating to Inion's      
funding requirements, regulatory approvals, reliance on third parties,          
intellectual property, key personnel and other factors. These forward-looking   
statements speak only as at the date of this announcement. The Group expressly  
disclaims any obligation or undertaking to disseminate any updates or revisions 
to any forward-looking statements contained in this announcement to reflect any 
change in the Group's expectations with regard thereto or any change in events, 
conditions or circumstances on which any such statements are based. As a result 
of these factors, prospective investors are cautioned not to rely on any        
forward-looking statement.