Elektrobit Oyj - Company Announcement

THE ESTIMATED COST SAVINGS FROM TEMPORARY LAYOFFS IN ELEKTROBIT CORPORATION'S (EB) WIRELESS BUSINESS SEGMENT WILL BE APPROXIMATELY EUR 0.8 MILLION

STOCK EXCHANGE RELEASE
Free for publication on November 15, 2013, at 4.00 pm. (CET+1)

THE  ESTIMATED COST SAVINGS  FROM TEMPORARY LAYOFFS  IN ELEKTROBIT CORPORATION'S
(EB) WIRELESS BUSINESS SEGMENT WILL BE APPROXIMATELY EUR 0.8 MILLION

Elektrobit  Corporation (EB) has today  concluded measurements started on August
8, 2013 to  adjust its cost  level in its  Wireless Business Segment. With these
measurements,  EB  estimates  to  achieve  approximately  EUR  0.8 million  cost
savings,  which are  expected to  materialize mainly  during the  fourth quarter
2013. The  company has temporarily laid off 74 employees full or part time for a
maximum  of 90 days.  The company  has today  decided that  no further temporary
layoffs  will be implemented. Due to the more precise outlook towards the end of
the year in Wireless Business Segment, it has been possible to reduce the amount
of the temporary layoffs from the maximum amount estimated earlier.

EB  started  cost  saving  measures  targeting  EUR  1.5 million cost savings in
Wireless  Business  Segment  in  August  2013 to  adjust  the  its cost level to
correspond  the weakened demand  outlook by temporarily  laying off a maximum of
150 employees  full or part time  for a maximum of  90 days in Wireless Business
Segment.  The underlying reasons for the  layoffs are the decreased order volume
for  the second  half of  2013 from a  large customer  of EB, and delays in some
special  terminal projects. EB targets  to achieve a higher  order volume by the
beginning of 2014.

The  reduced need for temporary layoffs and thereafter the more precise estimate
of  the  cost  savings  will  not  affect company's outlook for 2013 or Wireless
Business  Segment's outlook  for the  second half  of 2013 given  in the interim
report  January-September 2013. The interim report is available in the company's
web page at www.elektrobit.com/investors.

Currently 510 employees are employed in Wireless Business Segment. The temporary
layoffs  concern  employees  working  at  all  EB's  sites in Finland, which are
Kajaani,  Oulu and Tampere.  The temporary layoffs  have been executed gradually
according  to  the  actual  capacity  requirements  and are estimated to last no
longer than until the end of January 2014.


Oulu, November 15, 2013

Elektrobit Corporation
Jukka Harju
CEO

Further information:

Hannu Huttunen
President of the Wireless Business Segment
Tel. +358 40 344 3507

Distribution:

NASDAQ OMX Helsinki
Principal media

Elektrobit (EB)
EB creates advanced technology and turns it into enriching end-user experiences.
EB  is specialized  in demanding  embedded software  and hardware  solutions for
wireless  and automotive industries. The net sales from continuing operations in
2012 totaled   MEUR  185.4. Elektrobit  Corporation  is  listed  on  NASDAQ  OMX
Helsinki. www.elektrobit.com

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