Panostaja Oyj - Major shareholder announcements

NOTIFICATION ON A CHANGE IN HOLDINGS REFERRED TO IN CHAPTER 2, SECTION 10 OF THE SECURITIES MARKETS ACT

Panostaja Oyj STOCK EXCHANGE RELEASE     16.12.2010 03:20 pm

NOTIFICATION ON A CHANGE IN HOLDINGS REFERRED TO IN CHAPTER 2, SECTION 10 OF
THE SECURITIES MARKETS ACT 

PanostajaOyjhas today received an announcement from Etera Mutual Pension
Insurance Company according to which Etera Mutual Pension Insurance Company's
ownership of the shares and voting rights in Panostajawill decrease under the
level of 1/10, in case an agreement which leads to acquisition of shares and
voting rights if executed is executed.PanostajaOyj has today announced that it
will buy back note units of the convertible subordinated loan 2006 as well as
issue new convertible capital loan 2011.Etera Mutual Pension Insurance
Companyhascommitted to Panostaja to sell its holdings in the convertible
subordinated loan 2006 and subscribe for the convertible capital loan 2011in a
way that its ownership of shares and voting rights is 3,318,182,i.e. 6.74 %, if
Etera Mutual Pension Insurance Company uses its conversion right of the
convertible capital loan 2011 to full extent. Conversion right shall end on 1
March 2016. Percentages of shares and voting rights have been calculated in
proportion to the number of shares and voting rights in the company if Etera
Mutual Pension Insurance Company uses its conversion right of the convertible
capital loan 2011to full extent, i.e. in proportion to the following number of
shares and voting rights: 49,221,292. 

Name of the target company: Panostaja Oyj

Ownership prior to the change: 6,250,000 shares and votes, i.e. 11.98 %
(current shares as well as the shares that may be received by converting the
note units of the convertible subordinated loan 2006) 

Point of time when the ownership changes as the aforementioned commitment has
become binding: 16 December 2010 

Ownership after the change: 3,318,182 shares and votes(current shares as well
as the shares that may be received by converting the note units of the
convertible capital loan 2011) 

Percentage of shares and voting rights: 6.74 %

PANOSTAJA OYJ

Juha Sarsama

CEO

Additional information: CEO Juha Sarsama + 358 40 774 2099