Neste Oil - Company Announcement

NESTE OIL TO CHANGE ITS SEGMENT REPORTING AS OF 1 JANUARY 2008

Neste Oil will change its segment reporting as of 1 January 2008, and
report on the performance of all five of its divisions separately
from then on. The company has consisted of Oil Refining, Biodiesel,
Specialty Products, Oil Retail, and Shipping since 16 October 2007.
The operations of Research and Technology and Neste Jacobs will be
reported under Other, which includes Group administration and shared
services functions, as part of the new reporting structure.

The new reporting segments are Biodiesel and Specialty Products. The
figures for Biodiesel and the businesses now grouped under Specialty
Products, together with Research and Technology and Neste Jacobs,
will come under Oil Refining until the end of 2007.

Neste Oil will publish comparative figures for the 2007 financial
year in line with the new segment structure on 7 February 2008.

The new segments

Biodiesel is responsible for Neste Oil's proprietary
second-generation NExBTL Renewable Diesel. The first plant producing
NExBTL was completed earlier this year at Porvoo, and a second one is
under construction alongside the first. Neste Oil has set itself the
target of becoming the world's leading producer of renewable diesel.
Specialty Products, previously part of Oil Refining, is responsible
for the production and sale of base oils and gasoline components, and
for Neste Oil's stake in Nynäs Petroleum, a specialist producer of
bitumen and naphthenic specialty oils. Specialty Products is an
established business with annual sales ranging between EUR 500
million and 700 million and net assets of around 400 million euros.
Specialty Products currently clearly exceeds the Group's
profitability target of 15% return on average capital employed after
tax.
Further information:
Petri Pentti, CFO, tel. +358 10 458 4490


Neste Oil Corporation

Osmo Kammonen
Senior Vice President, Corporate Communications
Neste Oil Corporation is a refining and marketing company, with a
focus on advanced, clean traffic fuels and a strategy aimed at
growing the company's oil refining operations and premium-quality
renewable diesel production. Neste Oil's refineries are located in
Porvoo and Naantali in Finland, and have a total refining capacity of
approx. 250,000 bbl/d. The company employs around 4,700 people. Neste
Oil is listed on the Helsinki Stock Exchange (symbol: NES1V). For
further information, see www.nesteoil.com.