Panostaja Oyj - Company Announcement

RELEASED IN FINNISH (28.06.2007) PANOSTAJA TO LAUNCH A SHARE BUY-BACK PROGRAMME

Panostaja Oyj              Stock Exchange Bulletin 29th June 2007               


PANOSTAJA TO LAUNCH A SHARE BUY-BACK PROGRAMME                                  

On 15th December 2006, Panostaja Oyj's Annual General Meeting authorised the    
Board of Directors to decide on launching a programme to buy back its own       
shares. The Board has decided that the company start repurchasing its own shares
no earlier than 5th July 2007. The maximum volumes to be acquired are 1,725,659 
Class A shares and 1,247,797 Class B shares.                                    

The company will acquire its own shares in order to have them available to offer
as part of possible business acquisitions or other restructuring measures or    
when purchasing assets as part of its business operations, to develop its       
capital structure, to cancel shares, or to implement an incentive scheme for key
personnel.                                                                      

Due to the low average trading liquidity of the company's shares, the Board     
further decided, as per Clause 3.2.5 of the Helsinki Stock Exchange Guidelines  
governing the acquisition of own shares, to deviate from the procedures referred
to in Clauses 3.2.1-3.2.2 of the Guidelines as detailed here. The company aims  
to carry out the acquisition of its own shares within six months of launching   
the acquisition, thus seeking to ensure trading liquidity during the buy-back   
programme. Acquisition of the company's own shares on these terms may lead to a 
situation where the volume being acquired exceeds half (50%) of the average     
daily trading volume, but even in such cases, the deviation must not result in  
any exceptional market movements, nor may the volume being acquired on that     
particular trading day exceed 5% of total volumes being acquired (i.e. 86,282   
Class A shares and 62,389 Class B shares).                                      

This stock exchange bulletin is a translation of the original Finnish stock     
exchange bulletin June 28, 2007.                                                

Panostaja Oyj                                                                   

Board of Directors                                                              


Further information:                                                            

Mr. Olli Halmevuo, CEO, tel. +358 (0)3 263 4300 or mobile +358 (0)40 545 3767.