CapMan - Company Announcement

CapMan Plc's Norum acquisition completed, two new investments from CapMan Russia Fund

CapMan Stock Exchange Release 27 August 2008 2.15. p.m.

CapMan Plc has completed the acquisition of private equity house
Norum from the company's senior management, DnB NOR Bank ASA and
Sitra Management Ltd. The transaction was announced on 26 May 2008.
In the transaction 51% of current CapMan Russia Fund's (prior the
transaction Norum Russia Fund III) management company's and 100% of
the advisory company's share capital and voting rights transferred to
CapMan Plc's ownership.

The purchase price was approx. EUR 3.4 million, and it will be
adjusted on the basis of the final size of CapMan Russia Fund. Of the
paid purchase price approx. one million was paid in cash and
remaining EUR 2.4 million through a direct share issue of to the
sellers. The value of each B share in the transaction was EUR 2.43
corresponding to the volume weighted average trading price of CapMan
B shares between 22 April 2008 and 21 May 2008. CapMan Plc issued a
total of 982,539 new CapMan Plc B shares, that represent 1.2% of the
total number of CapMan Plc shares after the share issue. The new
shares will be notified for registration to the Trade Register
without delay. There is a three-phase lock-up for the B shares
issued, and the lock-up will end on 25 May 2011.

More information on the transaction can be found in the stock
exchange release announced on 26 May 2008, available at CapMan's
Internet pages at http://www.capman.com/En/Media/Releases/. At the
closing of the Norum transaction a new CapMan Russia investment area
was established and 13 Norum employees transferred to the employment
of CapMan. In addition, CapMan Russia Fund transferred under the
management of CapMan at the closing. The fund's size is currently EUR
88 million, including CapMan Plc's own commitment of EUR 13.5
million.

Two investments from CapMan Russia Fund

CapMan Russia Fund has made its first two investments in private
Russian airline operator Region Avia Airline and in a pig farm
operator Russia Baltic Pork Invest ASA (RBPI).

Region-Avia Airline, founded in 2005, is a private Russian airline
operating regular passenger traffic in Russia. Region-Avia Airline
also offers charter corporate flights and services for regional and
local authorities in Russia and its hub airport is Bykovo airport in
Moscow. Region-Avia's goal is to provide regular flights to link
Russia's outlying cities with the country's main regional air hubs.
The company employs over 90 people and its turnover in 2007 was € 1.2
million. The investment is made to finance Region Avia's growth and
to build up an adequate fleet of Embraer turbo prop aircrafts to
implement the opening of new flight routes.
RBPI, established in 2004, is currently setting up a large pig
production farm in Kaliningrad. The construction is expected to be
completed in autumn 2008. The farm will control the whole production
chain from cultivation of feedstock to fresh and processed pork meat,
and it will have a capacity of 110,000 pigs. In addition, the company
owns some 4,000 hectares of farm land for the use of the farm. The
pork meat consumption in Russia has increased at annual rate of 6.4
percent in recent years, and the total consumption of pork meat is
expected to reach 3.2 million tons in 2008. The investment in RBPI is
made to finalize the capital expenditure program, support the
company's growth and to strengthen its production chain.
For more information, please contact:

Norum transaction:
Heikki Westerlund, CEO, Senior Partner, CapMan Plc, tel.
+358 207 207 504 or +358 50 559 6580
Petri Saavalainen, Head of CapMan Russia, Senior Partner, tel.
+358 207 207 514 or +358 500 415
Hans Christian Dall Nygård, Head of CapMan Russia Investment
Operations, Partner, tel. +7 812 913 7834

Investments:
Region Avia:     Alberto Morandi, Partner, CapMan Russia, tel.
+7 985 111 97 98
RBPI:    Kåre Wessel, Investment Director, CapMan Russia, tel.
+7 812 913 7832



CAPMAN PLC


Mari Reponen
Communications Director
Investor Services


DISTRIBUTION
Helsinki Stock Exchange
Principal media
www.capman.com


CapMan  www.capman.com
CapMan is one of the leading alternative asset managers in the Nordic
countries and manages Nordic funds with approximately EUR 3.2 billion
in total capital. CapMan has six investment areas (CapMan Buyout,
CapMan Technology, CapMan Life Science, CapMan Russia, CapMan Public
Market and CapMan Real Estate), and each of them has a dedicated team
and funds. Altogether CapMan employs 140 people in Helsinki,
Stockholm, Copenhagen, Oslo and Moscow. CapMan was established in
1989 and its B shares are listed on the Helsinki Stock Exchange since
2001.