Inion Oyj - Company Announcement

Pre-close Trading Update

Inion Oy                                    
                           (“Inion or the “Company”)                            

                            Pre-close Trading Update                            
	                                                                               
Tampere, Finland and Guildford, UK. 4 July 2008, Inion (LSE: IIN.L), the company
focused on the development and commercialisation of novel biodegradable medical 
implants, today provides an update on 2008 trading, ahead of its half-yearly    
results announcement expected in August 2008.                                   

Based on the unaudited figures for the six months to 30 June 2008, the Directors
anticipate that revenues for the period will be approximately €2.6 million, up  
12% on the corresponding period in 2007. Invoiced sales of €1.8 million for the 
second quarter were 115% higher than in the first quarter of 2008, and 34%      
higher than in the corresponding period in 2007. These positive trends lead us  
to believe that Inion is on track to meet current market expectations of circa  
€7.0 million in sales for the full year 2008.                                   

Significantly, within these growth figures there is evidence to suggest Inion is
starting to gain traction in the important US market.                           

Chris Lee, Inion's CEO, said: “We continue to make good progress with executing 
our commercial strategy and are pleased to see sales growing strongly across our
focused market segments. This uplift in sales is as a result of our commercial  
teams in these areas becoming more effective and an increasing awareness and    
acceptance among surgeons of the clinical benefits our biodegradable products   
can bring.”	                                                                    

                                     -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™ family of biomaterials, with properties      
tailored for specific surgical applications, in terms of strength, flexibility  
and rate of degradation                                                         
                                                                                
Inion is also focused on developing proprietary new bioactive and               
biodegradable biomaterials that promote bone healing and accelerate patient     
rehabilitation.                                                                 

Inion was incorporated in early 2000 and listed on the Official List of the UK  
Listing Authority in December 2004 (ticker: IIN). The Company has offices in the
UK and USA, and its head office, R&D and production facilities are 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.