Honkarakenne Oyj - Company Announcement

HONKARAKENNE DIVESTS ITS HOLDING IN PW-WINDOWS OY

Stock Exchange Release                                                          
HONKARAKENNE OYJ Stock Exchange Release 30 December 2009 at 09.00 hours         

HONKARAKENNE DIVESTS ITS HOLDING IN PW-WINDOWS OY                               

On 29 December 2009, Honkarakenne Oyj completed an agreement to sell its 15%    
holding in the Ikaalinen-based window manufacturer PW-Windows Oy. The shares    
will be transferred to PW-Windows Oy under an agreement to purchase own shares. 
The transaction is subject to the completion of the sale of the business        
operations of PW-Windows Oy to Suomen Villa Palvelut Oy by 29 January 2010 at   
the latest. The parties in the transaction have agreed that the sale price and  
other terms and conditions will remain undisclosed.                             

Under a separate agreement, the business operations of PW-Windows Oy will be    
transferred to Suomen Villa Palvelut Oy, and production will continue at its    
production facilities in Ikaalinen. The principal shareholders of Suomen Villa  
Palvelut Oy are PW-Windows Oy and the operational management of the new company.

Honkarakenne relinquishes its holding in PW-Windows Oy as part of its ongoing   
measures to streamline the entire group's structure and boost the efficiency of 
procurements.                                                                   


For further information, please contact: CEO Esa Rautalinko, tel. +358          
400 740 997, esa.rautalinko@honka.com                                           


HONKARAKENNE OYJ                                                                
Board of Directors                                                              


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