Metso Oyj - Company Announcement

Metso has received all required approvals or permissions

Metso has received all required approvals or permissions                        

Metso Corporation's Company release on December 17, 2009 at 9:30 a.m.           
Metso Corporation announced on November 5, 2009 that Metso and Tamfelt Corp.    
agreed to combine their operations through a share exchange. On December 4,     
2009, Metso announced that shareholders, whose aggregated ownership in Tamfelt  
Corp. is more than 66,7 per cent had either accepted or undertaken to accept    
Metso's exchange offer. This level of acceptances would fulfill the minimum     
acceptance condition included in the terms and conditions of the share exchange 
offer.                                                                          
According to the terms and conditions of the share exchange offer, the share    
exchange offer remains subject to, inter alia, the receipt of all necessary     
approvals or permissions from the relevant competition authorities and that     
possible conditions set forth in such approvals or permissions can be accepted  
by Metso.                                                                       
As of the date hereof, Metso has received all necessary approvals or permissions
from the relevant competition authorities required for the completion of the    
share exchange offer on conditions set forth in such approvals or permissions,  
which are acceptable to Metso.                                                  
With the receipt of all necessary approvals or permissions from the relevant    
competition authorities, all conditions to the share exchange offer have now    
been satisfied except for the registration of the amendment to the articles of  
association of Tamfelt with the Trade Register which is expected to take place  
on December 22, 2009.                                                           
The offer period for the share exchange offer began on November 23, 2009 at 9:00
a.m. (Finnish time) and was announced to expire preliminarily on December 18,   
2009 at 4:00 p.m.                                                               
“We are very pleased with the reception of our exchange offer. I naturally hope 
that as many of the remaining Tamfelt shareholders as possible will accept our  
exchange offer. Our intention is to complete the share exchange after the       
expiration of the original offer period when we can also welcome those Tamfelt  
shareholders that have accepted the exchange offer as Metso shareholders”,      
states Jorma Eloranta, President and CEO of Metso”. “We are confident that this 
transaction will have a positive effect on our competitiveness”.                
Metso is a global supplier of sustainable technology and services for mining,   
construction, power generation, automation, recycling and the pulp and paper    
industries. We have about 26,500 employees in more than 50 countries.           
www.metso.com                                                                   
Further information, please contact:                                            
Johanna Henttonen, Vice President,                                              
Investor Relations, Metso Corporation, tel. +358 20 484 3253                    
This release may not be released or otherwise distributed, in whole or in part, 
in or into Australia, Canada, Japan, New Zealand, South Africa or the United    
States. This release is not a tender offer document and as such does not        
constitute an offer or invitation to make a sales offer. Investors shall accept 
the Share Exchange Offer for the shares and the offer for the Stock Options only
on the basis of the information provided in a share exchange offer document.    
Offers will not be made directly or indirectly in any jurisdiction where either 
an offer or participation therein is prohibited by applicable law or where any  
share exchange offer document or registration or other requirements would apply 
in addition to those undertaken in Finland.                                     
The share exchange offer document and related acceptance forms will not and may 
not be distributed, forwarded or transmitted into or from any jurisdiction where
prohibited by applicable law. In particular, the Share Exchange Offer or the    
offer for the Stock Options is not being made, directly or indirectly, in or    
into, or by use of the postal service of, or by any means or instrumentality    
(including, without limitation, facsimile transmission, telex, telephone or the 
Internet) of interstate or foreign commerce of, or any facilities of a national 
securities exchange of, Australia, Canada, Japan, New Zealand, South Africa or  
the United States. The Share Exchange Offer or offer for the Stock Options      
cannot be accepted by any such use, means or instrumentality or from within     
Australia, Canada, Japan, New Zealand, South Africa or the United States.       
Metso Corporation                                                               
Olli Vaartimo                                                                   
Executive Vice President and CFO                                                
Kati Renvall                                                                    
Vice President, Group Communications                                            
Distribution:                                                                   
NASDAQ OMX Helsinki Ltd                                                         
Media                                                                           
www.metso.com