Neste Oil - Corporate Action

Neste Oil completes its statutory employer-employee negotiations

Neste Oil Corporation
Stock Exchange Release
13 October 2009 at 8 am (EET)

Neste Oil completes its statutory employer-employee negotiations

Neste Oil has completed the statutory employer-employee negotiations
covering the Finnish-based personnel employed by Neste Oil and its
subsidiaries. These negotiations began on 5 August 2009.

As a result of the negotiations, Neste Oil's personnel in Finland
will be reduced by a total of 351. Of these, around 240 people will
leave the company through voluntary retirement. Neste Oil will offer
outplacement services to those 111 persons also affected. A number of
temporary layoffs will take place at Neste Jacobs as well; the exact
number of these has yet to be finalized. In addition, majority of
temporary jobs will end as these contracts expire.

The reductions will be implemented immediately, beginning in October
2009. The last job losses related to these reductions will take place
during 2010. Temporary layoffs will be made on a phased basis during
2009 and 2010.

The measures decided on are the result of Neste Oil's need to adapt
its cost structure to the changes that have taken place in the market
situation, its lower level of profitability, and the requirements of
its new operating model. Personnel-related measures will save the
company EUR 30 million in annual fixed costs.

When the negotiations were started, Neste Oil anticipated that 450
people would be affected. Neste Oil currently employs approximately
5,300 people, of which around 4,000 are based in Finland.


Neste Oil Corporation

Hanna Maula
Director, Corporate Communications

Matti Lievonen, President & CEO, tel. +358 (0)10 458 11
Hannele Jakosuo-Jansson, Senior Vice President, Human Resources, tel.
+358 (0)10 458 4688
Osmo Kammonen, Senior Vice President, Communications, Marketing and
Public Affairs, tel. +358 (0)50 458 4885

Neste Oil in brief

Neste Oil Corporation is a refining and marketing company
concentrating on low-emission, high-quality traffic fuels. The
company is the world's leading supplier of renewable diesel. Neste
Oil's refineries are located in Porvoo and Naantali and have a
combined crude oil refining capacity of approx. 260,000 barrels a
day. The company had net sales of EUR 15 billion in 2008 and employs
around 5,300 people. Neste Oil's share is listed on the NASDAQ OMX
Helsinki.

Neste Oil has been selected into the Dow Jones Sustainability World
Index and awarded 'Best in Class' recognition for its social
accountability by Storebrand. The company is also featured in the
Ethibel Pioneer Investment Register and included in Innovest's Global
100 list of the world's most sustainable corporations. Further
information: www.nesteoil.com.