Elektrobit Oyj - Company Announcement

EB'S, ELEKTROBIT CORPORATION, PERSONNEL NEGOTIATIONS CONCLUDED

May 8, 2008 at 11.30 am. (EET)

EB initiated  the personnel  negotiations in  March relating  to  the
Wireless Communication  Tools  ("WCT") and  Radio  Network  Solutions
("RNS") businesses  in  Finland.  Personnel  negotiations  have  been
concluded on May 8, 2008.
 
EB will renounce the  main part of the  production activities of  the
WCT business. EB intends  to acquire this  activity not belonging  to
its core  businesses  from  external  partners.  However,  the  final
assembly, configuration and  testing operations of  the WCT  products
will be maintained  in EB. Therefore,  as a result  of the  personnel
negotiations in WCT,  40 jobs will  be cut out.  When initiating  the
negotiations, EB estimated that approximately 50 employees mainly  in
Oulunsalo would  be  affected  by the  reductions.  Due  to  internal
transfers to  the other  businesses  and personnel's  attrition,  the
total number of affected personnel  came down during the  negotiation
process.
 
Due to  the weaker  than  expected demand  and  due to  strong  price
competition in  the R&D  services provided  by the  RNS business,  EB
started personnel negotiations also relating to the RNS business.  As
a result, 19 jobs will be cut out. When initiating the  negotiations,
EB estimated  that  approximately 40  employees  mainly in  Oulu  and
Kajaani  would  be  affected  by  the  reductions.  Due  to  internal
transfers to the  other businesses  and from  administrative work  to
more customers focused tasks as well as due to personnel's attrition,
the  total  number  of  affected  personnel  came  down  during   the
negotiation process.
 
EB announced to initiate to  the personnel negotiations on March  27,
2008 as a part it's rearrangements in Finland.
 
May 8, 2008
 
Elektrobit Corporation
Pertti Korhonen
CEO
 
Further information:
Pertti Korhonen
CEO
Tel. +358 40 344 5148
 
Panu Miettinen
CFO
Tel. +358 40 344 5338
 
DISTRIBUTION:
OMX Nordic Exchange Helsinki
Principal media
 
 
EB, Elektrobit Corporation
EB creates advanced technology and  turns it into enriching  end-user
experiences. EB  is specialised  in demanding  embedded software  and
hardware solutions for  automotive and wireless  industries. The  net
sales for the year 2007  totalled MEUR 144.3. Elektrobit  Corporation
is listed on Nordic Exchange Helsinki. www.elektrobit.com