Panostaja Oyj - Company Announcement

PANOSTAJA-OWNED MATTI-OVI GROUP TO STREAMLINE OPERATIONS

Panostaja Oyj       Stock Exchange Bulletin, 29th May 2008 12:00                

PANOSTAJA-OWNED MATTI-OVI GROUP TO STREAMLINE OPERATIONS                        

Matti-Ovi Group is to concentrate its production operations in Laitila. The     
company's plant located in Polvijärvi will be closed down. The restructuring    
will enable the Group to streamline operations and strengthen its position on   
the market. As part of the restructuring effort, the Group will further develop 
its logistics and subcontracting functions. It is expected that closure of the  
Polvijärvi plant will lead to 12 employees having their contracts terminated.   

Panostaja Oyj                                                                   

Juha Sarsama                                                                    
CEO                                                                             


Further information:                                                            
Mr. Tapani Harjunen, Managing Director of Matti-Ovi Oy, mobile +358 (0)400 573  
990 and Mr. Juha Sarsama, CEO of Panostaja Oyj, mobile +358 (0)40 774 2099.