Huhtamäki Oyj - Decisions of general meeting

Resolutions of Huhtamäki Oyj's Annual General Meeting of Shareholders

HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 31.3.2008 AT 19.00

Huhtamäki Oyj's Annual General Meeting of Shareholders was held in
Helsinki on March 31, 2008. The meeting adopted the Company's
Financial Statements and the Consolidated Financial Statements for
2007 and discharged the Company's Board of Directors and the CEO from
liability.

Dividend

Dividend for 2007 was set at EUR 0.42 per share, as proposed by the
Board of Directors. The dividend is paid on April 10, 2008 to a
shareholder who on the record date April 3, 2008 is registered as a
shareholder in the Company's shareholder register maintained by
Finnish Central Securities Depository Ltd.

Composition of the Board of Directors

Seven (7) members of the Board of Directors were elected for a term
which lasts until the end of the Annual General Meeting of
Shareholders following the election. To the Board of Directors were
re-elected Ms. Eija Ailasmaa, Mr. George V. Bayly, Mr. Robertus van
Gestel, Mr. Mikael Lilius, Mr. Anthony J.B. Simon and Mr. Jukka
Suominen. Mr. Rolf Börjesson was elected as a new member to the Board
of Directors.

The Board of Directors convened immediately after the Annual General
Meeting of Shareholders and elected Mikael Lilius as Chairman of the
Board and Jukka Suominen as Vice Chairman of the Board.

Remuneration of the members of the Board of Directors

The Annual General Meeting of Shareholders confirmed the following
remuneration for the Board of Directors: the annual compensation for
the Chairman is EUR 90,000, for the Vice Chairman EUR 55,000 and for
the other members EUR 45,000. In addition, a meeting fee of EUR 500
per meeting shall be paid to all members for the Board and Board
Committee meetings they attend. Traveling expenses were resolved to
be paid in accordance with the Company policy.

Auditor

The Authorized Public Accountant firm KPMG Oy Ab was elected as
Auditor. KPMG Oy Ab has announced Ms. Solveig Törnroos-Huhtamäki,
APA, to be the auditor with principal responsibility.


Mr. Pekka Merilampi, lagman, chaired the meeting.


For further information, please contact:
Juha Salonen, Group Vice President, General Counsel
Tel. +358 (0)10 686 7851


HUHTAMÄKI OYJ
Group Communications


Huhtamaki Group is a leading manufacturer of consumer and specialty
packaging with 2007 net sales totaling EUR 2.3 billion. Consumer
goods and foodservice markets are served by some 15,000 people in 66
manufacturing units and several sales offices in 36 countries. The
parent company, Huhtamäki Oyj, has its head office in Espoo, Finland
and is listed on the Helsinki Stock Exchange. Additional information
is available at www.huhtamaki.com.


ENCLOSURE 1: Chairman of the Board Mikael Lilius

ENCLOSURE 2: Interim CEO Timo Salonen's review


ENCLOSURE 1 TO HUHTAMÄKI OYJ'S STOCK EXCHANGE RELEASE March 31, 2008

Chairman of the Board Mikael Lilius, at Huhtamäki Oyj's Annual
General Meeting in Helsinki on March 31, 2008.

Dear shareholders, ladies and gentlemen,

Before Timo Salonen, our interim CEO, gives his speech, I would like
to say a few words about Huhtamaki's progression from a conglomerate
to an international consumer packaging company, and the latest
changes that have taken place in the organization.

The consumer packaging market was estimated at 380 billion US dollars
in 2007, and annual growth over the next few years is estimated to
continue at nearly 3.5 percent*. Huhtamaki has operated in the global
markets since the early 2000s, celebrating seven years as a consumer
packaging company.

This diagram shows Huhtamaki's quick progress from a conglomerate to
a global player specializing in consumer packaging. Many of you
probably remember Huhtamaki's active period of internationalization.
The company executed approximately 200 mergers and acquisitions since
1982, approximately 80 of which consisted of acquisitions in the
packaging industry. In the mid-1980s, the share of packaging made up
less than 10 percent of net sales. A good ten years later Leaf's
North American operations and Leiras were divested, increasing
packaging's share of net sales to more than 50 percent in 1997. It
wasn't until 2001 that net sales were generated solely from consumer
packaging operations. Huhtamaki's history, in that respect, is still
quite young.

Alongside the growth opportunities that have been identified,
Huhtamaki's global operating environment has presented its fair share
of challenges. The costs of raw materials used in packaging have
remained at an all-time high, rising last year to the highest they've
been in thirty years as a result of the rise in crude oil and energy
prices. The clear weakening of the US dollar in relation to the euro
has also affected Huhtamaki's reported result.

Structural changes implemented by raw-material suppliers and the
consolidation and growth in the size of customer companies have also
presented their own challenges, which will inevitably lead to changes
in the packaging industry. It is very likely that packaging industry
companies that have to contend with the pressures imposed by strong
raw-material suppliers and customers will end up consolidating and
specializing in order to strengthen their own position.

Huhtamaki had to adapt to these changes; in 2004 the Board selected
Heikki Takanen to spearhead that work. His task was to carry on with
the integration of the consumer packaging companies that Huhtamaki
acquired into a united whole, to make use of the possible synergy
benefits and to implement any other possible restructuring.

The work began at the end of 2004, with the launch of the first phase
of an extensive restructuring program. A broad internal development
program was also set in motion and Asia and Eastern Europe were
identified as emerging markets with the greatest potential. Resources
also received a boost, investments were carried out in growth areas
and in mid-2005 the second phase of the restructuring program was
announced. Production was stepped up throughout Europe and partly in
Asia. Some units were shut down in Europe, affecting around 1,000
employees. The annual savings goal was 40 million euros, which was
expected to be fully reflected in the results by the end of 2007.

In 2006 the company's financial targets were updated and investments
in emerging markets continued. Last year the company's strategy was
specified and core business operations and the strongest growth
segments were defined. This was all carried out as a close
collaborative effort between the Board and the CEO.

We on the Board, however, could not be pleased with the achieved
financial results. We did not reach the targets that were set and, as
a result, the Board and CEO mutually agreed on Takanen's departure in
mid-November. We immediately set out to find a successor for him as
there is still a lot of work to be done and the time is running
short.

We chose Jukka Moisio as our new CEO. He joins Huhtamaki from
Ahlstrom, where he was President and CEO. Beginning tomorrow, he will
lead the realization of the plans together with the Group Executive
Team. Ahlstrom and Huhtamaki have similar histories, and Ahlstrom has
recently made the change from a conglomerate company to an
international company focused on one core business. Jukka Moisio
played an important role in leading and realizing that change. He has
also worked extensively in international tasks, and we believe that
his solid expertise, varied experience and ability to make even
difficult decisions make him an excellent CEO for Huhtamaki. In his
new role he will focus on improving profitability, accelerating the
execution of the chosen strategy, focusing the business and thereby
increasing shareholder value.

I now have the pleasure of introducing Jukka, who will tell you a bit
about himself. Welcome, Jukka.

*Pira, Future of global packaging to 2012. Predicted growth 3.4% per
annum until 2012.


ENCLOSURE 2 TO HUHTAMÄKI OYJ'S STOCK EXCHANGE RELEASE March 31, 2008

Interim CEO Timo Salonen, at Huhtamäki Oyj's Annual General Meeting
in Helsinki on March 31, 2008

Ladies and gentlemen, dear Huhtamaki shareholders,

I will take this time to briefly summarize the events at Huhtamaki
over the past year and the strategic path that we are now on. 2007
was an eventful and challenging year for our Group. Although raw
material prices rose to record highs and the dollar weakened
considerably next to the euro, our operative results exceeded those
of last year.

Demand for consumer packaging grew briskly in emerging markets in the
eastern parts of Europe and in Asia and remained stable in the
traditional markets. The Group's net sales exceeded 2.3 billion
euros, an increase of two percent over the previous year. The
underlying EBIT, 136 million euros, increased in Rigid packaging in
Europe, remained good in the Americas, but weakened in the Flexible
and Films business and in the Asia-Oceania-Africa region.

The goodwill and tangible asset impairment losses of 104 million
euros that we recorded in the last quarter impacted the reported
Group EBIT. These were mostly related to Rigid plastics production in
Europe. Other salient points in our key financial figures were the
upturn in cash flow at the end of the year and the reduced net debt
in the second half of the year.

Sales of Foodservice and Flexibles packaging remained strong
throughout the year, and demand grew particularly in Eastern Europe,
which generated approximately 16 percent of the region's entire net
sales. Demand for Foodservice packaging continued to grow, in
response to which the production capacity of beverage cups was
increased in several European units. Demand for Rigid Consumer Goods
packaging varied and presented challenges in both the UK and Southern
Europe.

Europe's share of the net sales - 1,229 million euros - made up 53
percent of the Group's net sales. The underlying EBIT in Europe was
56 million euros, corresponding to an EBIT margin of 4.6 percent. The
reported EBIT was 23 million euros in the minus, which was the result
of the aforementioned impairment losses and restructuring costs.

The Americas generated 29 percent, or 677 million euros, of the
Group's net sales last year. The general economic instability that
hit the US in the latter half of the year affected the demand for
consumer packaging. The weak dollar in relation to the euro
negatively affected the reported figures.

Sales growth in the retail sector, however, remained stable in the
US. Chinet disposable tableware has maintained a very strong market
position, one that was further strengthened during the year with new
product launches. The area's underlying EBIT was 63 million euros,
representing a three percent improvement over the previous year. The
reported EBIT was 46 million euros, which includes goodwill and
tangible asset impairment losses.

In addition to retail, the flexibles market - technically high
quality packaging in particular - is predicted to grow in the
Americas, and production capacity at the Malvern plant in
Pennsylvania was expanded during the year.

Net sales for Asia-Oceania-Africa grew 8 percent over the previous
year, standing at 405 million euros, or 18 percent of the Group's net
sales. Asia represents the strongly developing part of the area, and
Oceania the traditional markets. Good volume growth was boosted by
the Flexibles business, and sales growth was stable especially in
Thailand and India, partly due to our new investments. A flexible
packaging plant in Rudrapur, India commenced production in early 2007
and construction on a new flexible packaging plant in Bangkok,
Thailand was started.

Sales in the Rigid businesses were steady in the entire region. The
aim is to secure our position in Asia by relocating the rigid
packaging production from Hong Kong to a new, larger facility in
Guangzhou, China, where production should be in operation during the
first half of this year.

The underlying EBIT for Asia-Oceania-Africa decreased because of
start-up costs related to new capacity expansions and the unfavorable
margin development especially in India. The area's underlying EBIT
was 21 million euros, corresponding to an EBIT margin of 5.1 percent.
The reported EBIT, 9 million euros, includes goodwill impairment loss
and restructuring charges.

Sustainable development is one of the leading global trends and an
important strategic issue for Huhtamaki, too. Consumer awareness of
environmental issues has increased, and sustainability is evident
also in the packaging industry. We have been forerunners as a
developer of environmentally sound packaging, we support the success
of our customers by offering them, among other things, biodegradable
and compostable tableware and recyclable fiber packaging, and our
development work continues.

We are committed to continuous improvement in all aspects of
sustainable development - financially, socially and environmentally.
Last year we achieved the majority of the environmental targets set
in 2003, meaning we improved our energy efficiency and recovered an
even greater amount of waste. We still face challenges, however, and
we have now set new environmental goals until the end of 2011. These
goals include reducing the total volume of waste and carbon dioxide
emissions and increasing the energy efficiency of production.

If we take a look at Huhtamaki today, our business operations have
been spread across many different areas, both geographically and
technologically. In our strategic work, we found that the Flexibles
and Films segments hold a strong market position and good synergy and
growth possibilities. In terms of rigid packaging our strength lies,
above all, in our solid knowledge of paper and fiber technologies.
There is growing demand for our Foodservice packaging in Europe and
Asia, while in the US our strongest areas are in retail and frozen
desserts packaging.

The direction of our newly defined strategic direction is based on
our aforementioned strengths. Good market growth is expected in the
Flexibles and Films segments, and our goal is to achieve a
significant global position and recognition as an innovative and
efficient player in our chosen product and market segments. We are
already in a globally leading position as a supplier of retortable
laminates, tube laminates and release films. To achieve our growth
targets, we make use of the global organization that was formed last
year and our solid technological know-how, and we continue to
strengthen our position in North America and Asia.

In Rigid Food and Beverage Packaging we aim to grow selectively and
we are focusing on the Foodservice markets in Europe and Asia, and on
retail in North America. Our customers are internationally recognized
players; we have a good product range and already enjoy a leading
position as a supplier of beverage cups in Europe. In addition, the
fast pace of development in the Asian countries and the
Westernization of consumer behavior support our growth.

Our Retail business in North America continues to grow. Chinet
products are market leaders in their own segment, brand recognition
is high and abundant growth opportunities exist through expanding the
product range and by using good supply channels.

Our leading paper and fiber capabilities strengthen our position also
as a supplier of sustainable packaging alternatives.

We want to increase our shareholder value through focusing on the
aforementioned growth areas. Improved profitability is the focus of
all our operations, and our previously confirmed financial targets
remain the same, such that the objective for our Earnings before
Interest and Taxes (EBIT) margin is 9 percent, our Return on
Investment (ROI) target is 15 percent, our gearing at around 100
percent and the average dividend payout ratio is 40 percent.

We will decrease our presence in business areas that do not meet our
profitability requirements or bring added value in terms of
fulfilling the Group's strategy. Our strategic direction is supported
by investments targeted at profitable growth areas.

In conclusion, I would like to say a few words about the outlook for
this year. We expect the Group EBIT to be at the level of the 2007
underlying EBIT, although we estimate a lower Group EBIT for the
first quarter of this year than for the same period last year. We
specified our first quarter estimate earlier today, and the Group
EBIT is estimated to be about 20 million euro.

Investments last year totaled 148 million euros. This year they will
be clearly lower, and we aim to make full use of the growth and
potential to improve our results offered by the investments that have
already been made.

Furthermore, it must be pointed out that volatile raw material and
energy prices as well as movements in currency translations have
raised uncertainty in terms of forecasting the results of our
operations.

It is time for us to fulfill the new strategy we have redefined, with
a new CEO at the helm. Dear shareholders, I would like to thank you
for the confidence you have placed in us during these times of great
change. I would also like to welcome Jukka Moisio to Huhtamaki, and
in my role as Chief Financial Officer, I offer him all the support he
needs in his new position.