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. 14 February 2008…Inion [LSE: IIN.L], a      
company focused on the development of novel biodegradable medical implants,     
announces that its Non-executive Directors have received Inion shares in lieu of
50% of their directors' fees in respect of the quarter ended 31 December 2007.  
This is part of a share-based payment scheme previously announced on 8 October  
2007.                                                                           

The share price used to calculate the number of shares issued to each Director  
was 24p, representing the closing mid-market share price on 31 December 2007,   
the last working day of the fourth quarter of 2007.                             


--------------------------------------------------------------------------------
| 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     |   26,042    |   24.00p    |    126,403     |     0.167      |
--------------------------------------------------------------------------------
| Peter Allen    |   18,229    |   24.00p    |     35,982     |     0.048      |
--------------------------------------------------------------------------------
| David Anderson |   15,625    |   24.00p    |     30,842     |     0.041      |
--------------------------------------------------------------------------------
| Jim Beery      |   16,927    |   24.00p    |     33,413     |     0.044      |
--------------------------------------------------------------------------------
| Peter Jensen   |   18,229    |   24.00p    |     35,982     |     0.048      |
--------------------------------------------------------------------------------
| Markku Silén   |   16,927    |   24.00p    |     33,413     |     0.044      |
--------------------------------------------------------------------------------


                                     -Ends-                                     

For further information, please contact:                                        
--------------------------------------------------------------------------------
| Inion Oy                                   | Tel: +44 (0)1483 685390         |
| Chris Lee, Chief Executive                 |                                 |
| Officer                                    |                                 |
| Julien Cotta, Chief Financial              |                                 |
| Officer                                    |                                 |
--------------------------------------------------------------------------------
| Citigate Dewe Rogerson                     | Tel: +44 (0)207 638 9571        |
| Mark Swallow /                             |                                 |
| David Dible                                |                                 |
--------------------------------------------------------------------------------

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[TM] family of biomaterials, with properties   
tailored for specific surgical applications, in terms of strength, flexibility  
and rate of degradation.                                                        
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 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.