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2008-10-09 08:00:00 CEST 2008-10-09 08:00:01 CEST REGULATED INFORMATION Talentum Oyj - Company AnnouncementGOODWILL IMPAIRMENT IN TALENTUM'S PREMEDIA BUSINESS OPERATIONSTALENTUM OYJ STOCK EXCHANGE RELEASE OCTOBER 9, 2008 AT 9.00 AM GOODWILL IMPAIRMENT IN TALENTUM'S PREMEDIA BUSINESS OPERATIONS Talentum Oyj will recognize an impairment loss on goodwill in the Premedia business operations for the third quarter of 2008. According to the preliminary calculations the impairment loss is about EUR 2.7 million. Thereafter the goodwill of Premedia business will be about EUR 0.8 million. Increasing competition and the termination of business contract with a major customer at the end of 2008 will lead to a significant decrease in Premedia's net sales and operating profit from the beginning of 2009. Premedia business consists of Faktor Oy where operations will be adjusted to respond the decreased workload but this will not affect the quality of service to other customers. The estimated need to dismiss employees is about 17-20 people. Faktor Oy currently has a total of 45 employees. The estimated cost of the restructuring for 2008 will be about EUR 0.2 million. Premedia accounts for less than 5% of Talentum's consolidated net sales. Talentum will release its January-September interim report on 28 October 2008. TALENTUM OYJ Juha Blomster CEO ADDITIONAL INFORMATION Kaisa Kokkonen, CFO, telephone +358 040 342 4212 DISTRIBUTION NASDAQ OMX Helsinki Principal media Talentum's core business is publishing and producing information for specific professional interest groups. Its publications include Talouselämä, Tekniikka &Talous, Affärsvärlden and Ny Teknik and the Finnish Law series (Suomen Laki), among others. Talentum's goal is to be a leading actor in its field of expertise in the Nordic countries and other predetermined marketing areas. The Talentum Group employs some 900 people in Finland, Sweden, the Baltic countries and Russia. Talentum's shares are listed on NASDAQ OMX Helsinki. |
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