Neste Oil - Company Announcement

Neste Oil planning to exit the shipping business - Ownership of key vessels will remain in Finland

Neste Oil Corporation
Stock Exchange Release
19 September 2013 at 2 p.m. (EET)

Neste Oil planning to exit the shipping business - Ownership of key vessels will
remain in Finland

Neste Oil is planning to exit its shipping business. According to the plan, the
company would sell all its own vessels and outsource the ship management
functions currently covering them, with around 320 ship management personnel
transferring to a new employer. Neste Shipping's chartering functions would be
retained and integrated with Neste Oil's organization. Going forward, Neste Oil
intends sourcing its marine transportation through contractual arrangements."Neste Oil's shipping needs have changed in recent years," explains Neste Oil's
President & CEO, Matti Lievonen. "The proportion of the Group's cargoes carried
by Neste Shipping ships flying the Finnish flag has steadily declined. Because
of its high costs level, Neste Shipping has been unable to compete profitably on
the international shipping market. Ensuring the long-term continuity of the
business in its present form would also call for significant investments. As a
result, we are now planning to exit the shipping business and reinforce our
focus on developing our core cleaner traffic solutions."

Service levels will be unaffected and national security of supply guaranteed

As part of the restructuring of its shipping business, Neste Oil intends selling
five tankers (Mastera, Futura, Neste, Kiisla, and Suula) and three tugs (Ukko,
Ahti, and Esko) to companies owned by Finland's National Emergency Supply Agency
and the Ilmarinen Mutual Pension Insurance Company. These will be sold at the
current market value. Neste Oil will lease the vessels back under long-term
contracts and they will continue to sail under the Finnish flag."I am glad that we have been able to find an arrangement that will keep the key
vessels needed by Neste Oil in Finnish ownership and in use by us," continues
Lievonen. "These vessels, together with vessels chartered from other shipowners,
will meet our current shipping needs and ensure that we are able to continue to
provide our customers with a high level of service. The arrangement  will
continue to ensure Finland's security of supply in the area of marine-based oil
transportation."

In addition, Neste Oil plans to sell three of its other tankers - Tempera,
Purha, and Jurmo - at a later stage, together with its 50% ownership of another
three tankers - Stena Poseidon, Palva, and Stena Arctica - which are owned
together with the Stena Group of Sweden.

Plan to outsource ship management functions

As part of the restructuring, Neste Shipping plans transferring its ship
management functions covering the crewing and maintenance of its vessels to a
commercial ship management company that would take over the operations of the
vessels that would remain in Neste Oil usage following the restructuring. Neste
Shipping's ship management functions currently employ around 300 people at sea
and 20 people on shore.

In connection with the planned outsourcing, Neste Shipping will commence
statutory employer-employee negotiations covering all the land- and sea-based
personnel. The plan is to transfer these personnel to a new employer. The
planned sale of the Tempera, Purha, and Jurmo at a later stage could impact
personnel in the event that the new employer is unable to offer substitutive
positions to those concerned.

Financial impact

If the current plans are implemented as intended, no significant capital gains
or losses are expected. However, the arrangement is expected to free up approx.
EUR 60 million of capital from Neste Oil's balance sheet and improve the Group's
result by approx. EUR 10 million annually during the coming years.

Neste Oil Corporation

Kaisa Lipponen
Director, Corporate Communications

Further information:

Matti Lievonen, President & CEO, +358 10 458 4484
Arvo Ruotsalainen, Vice President, Shipping and Terminals, tel. +358 (0)50
458 8205

Photos and video material can be downloaded to be used by the media at:
http://brandbank.nesteoil.com/?cart=837-heecakedec&l=EN

Neste Oil in brief

Neste Oil Corporation is a refining and marketing company concentrating on low-
emission, high-quality traffic fuels. The company produces a comprehensive range
of major petroleum products and is the world's leading supplier of renewable
diesel. Neste Oil had net sales of EUR 17.9 billion in 2012 and employs around
5,000 people, and is listed on NASDAQ OMX Helsinki.

Neste Oil is included in the Dow Jones Sustainability World Index and the
Ethibel Pioneer Investment Register, and has featured in The Global 100 list of
the world's most sustainable corporations for many years. Forest Footprint
Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil &
gas sector. Further information: www.nesteoil.com




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