Neste Oil - Changes board/management/auditors

Neste Oil to reorganize its operations around three business areas

Neste Oil is to reorganize its operations around three business areas
and seven common functions, and will introduce a new organization
reflecting this on 1 April 2009."The change is intended to give us a more cost-efficient and
customer-driven operating model, and one that will be better capable
of implementing our strategy," says President & CEO Matti Lievonen."The new model is a matrix organization that will enable us to
leverage the best practices and know-how of our business areas and
functions for the benefit of the entire company. It will also enable
us to ensure that new international units, such as the NExBTL
renewable diesel plants under construction in Singapore and
Rotterdam, can be integrated into Neste Oil's operations and
reporting effectively."

Business areas and reporting segments

The new business areas will act as profit centers and will be
responsible for their customers, products, and business development.
The new business areas are as follows: Oil Products, Renewable Fuels,
and Oil Retail. Activities outside these business areas will be
grouped under Others.

Neste Oil's financial reporting will be based on these business areas
from 28 April 2009 onwards when the Q1/2009 figures are announced.
Comparative figures for 2008 will be published before that in April.

The Specialty Products Division will be consolidated into the Oil
Products business area. Shipping operations will be reported in
connection with the business areas that use them, and the Shipping
business incorporated into Production & Logistics function.

Common functions

Neste Oil's common functions will be responsible for the production
operations and processes required by business areas, and for ensuring
their efficiency. They will also be responsible for the cost
efficiency, transparency, and harmonization of procedures across the
company, and for overseeing the use and sufficiency of Neste Oil's
resources.

The new common functions will be: Production & Logistics, Finance,
Human Resources, HSE, Technology & Strategy, Communications, and
Legal Affairs.

Neste Executive Board

The Neste Executive Board, under the President & CEO, will be
responsible for the implementation of the company's strategy and for
meeting operational targets.

The Neste Executive Board will comprise the following members:

Matti Lievonen, President & CEO
Matti Lehmus, Executive Vice President, Oil Products
Jarmo Honkamaa, Executive Vice President, Renewable Fuels, Deputy CEO
Sakari Toivola, Executive Vice President, Oil Retail
Ilkka Poranen, Senior Vice President, Production & Logistics
Ilkka Salonen, CFO
Hannele Jakosuo-Jansson, Senior Vice President, Human Resources
Simo Honkanen, Senior Vice President, HSE
Osmo Kammonen, Senior Vice President, Communications
Lars Peter Lindfors, Senior Vice President, Technology & Strategy
Matti Hautakangas*, General Counsel.
*Secretary to the Neste Executive Board, not a member

Neste Executive Management Board

The Neste Executive Management Board will comprise the President &
CEO, business area executive vice presidents, the CFO, and the Senior
Vice President, Production & Logistics, and will be responsible for
leading and setting operational business targets and monitoring
progress on achieving them.

Neste Oil Corporation

Osmo Kammonen
Senior Vice President, Communications


Further information:
President & CEO Matti Lievonen, tel. +358 (0)10 45811

Encls:
Organizational structure as of 1 April 2009
Management presentation

Attachments:

Organizational structure as of 1 April 2009.pdf

Management presentation.pdf