Aspocomp Group - Company Announcement

ASPOCOMP'S OWNERSHIP IN ITS THAI SUBSIDIARY DECREASED; BANGKOK BANK RELEASED THE CORPORATE GUARANTEE

Aspocomp Group Oyj   Company Announcement  October 16, 2008 at 3:20
pm


ASPOCOMP'S OWNERSHIP IN ITS THAI SUBSIDIARY DECREASED; BANGKOK BANK
RELEASED THE CORPORATE GUARANTEE

Aspocomp has today signed agreements related to a transaction in
which it decreased its shareholding in Aspocomp (Thailand) Co., Ltd
to about 6 percent. The new majority owners of Aspocomp (Thailand)
Co., Ltd are certain private persons belonging to immediate circle of
Aspocomp's present Joint Venture partner, Saha Pathana Inter-Holding
Plc. Aspocomp Group Oyj gave a loan of Baht 48 million to Aspocomp
(Thailand) Co., Ltd for partial repayment of its loans to Bangkok
Bank (BBL). Due to these arrangements BBL released Aspocomp Group Oyj
from its Baht 212 million corporate guarantee obligations.

As Aspocomp (Thailand) Co., Ltd is no longer consolidated into
Aspocomp Group, this transaction decreases Aspocomp Group Oyj's
consolidated interest bearing liabilities by about EUR 14 million and
the nominal value of interest bearing liabilities is now about EUR 27
million, of which about EUR 10 million is convertible bond issued in
2006. After this transaction Aspocomp Group's Equity ratio increases
to about 18 percent.

As a consequence of this transaction Aspocomp Group's continued
operations is expected to have full-year net sales of about EUR 20
million and a positive EBITDA in 2008 due to leaner cost structure
and more efficient operations. The continued operations mean the
structure after the restructuring of the Aspocomp group including
Aspocomp Oulu and the headquarter operations.

Aspocomp Group Oyj will own about 6 percent of Aspocomp (Thailand)
Co. Ltd, 90 percent of Aspocomp Oulu Oy and 20 percent of Meadville
Aspocomp Holdings.

For further information, please contact Isto Hantila, CEO,
tel. +358 9 591 8342.

ASPOCOMP GROUP OYJ



Isto Hantila
President and CEO

Aspocomp: Innovative interconnection solutions for the electronics
industry

The Aspocomp Group offers and develops innovative interconnection
solutions for the electronics industry in close cooperation with its
customers. We are strongly positioned as a supplier of data
communications equipments and industry. We offer our global customers
a fast road to mass production through flexible and cost-effective
adaptation of new technologies.

The Aspocomp Group's production facility is located in Oulu, Finland.
In 2007, the Group's net sales stood at EUR 22 million and it had
about 150 employees at the end of June, 2008.


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www.aspocomp.com