Neste Oil - Company Announcement

Neste Oil renames its Biodiesel division

Neste Oil's Biodiesel division has been renamed Renewable Fuels, with
immediate effect. The change was made because the term biodiesel is
often associated with fatty acid methyl ester (FAME) products, which
are completely different from Neste Oil's advanced NExBTL renewable
diesel, in terms of both production technology and product
properties.
 
Renewable Fuels' status as one of Neste Oil's six reporting segments
remains unchanged.
 
Neste Oil Corporation
 
Osmo Kammonen
Senior Vice President, Corporate Communications
 
Further information: Senior Vice President Osmo Kammonen on 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's strategy is based on growing both its oil refining and
premium-quality renewable diesel businesses. 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 12,103 million in 2007 and employs around 5,100
people. Neste Oil's share is listed on the Nordic Stock Exchange in
Helsinki. www.nesteoil.com.
 
NExBTL in brief
 
NExBTL renewable diesel is an advanced fuel based on renewable raw
materials that performs more efficiently and has a lower level of
environmental impact than fossil diesel or FAME-type biodiesel. Neste
Oil requires its raw material suppliers to observe a responsible
approach to sustainability. Feedstock of this type ensures that
NExBTL renewable diesel has a 40-60% lower level of greenhouse gas
emissions over its entire lifecycle compared to fossil diesel. NExBTL
renewable diesel can be blended with conventional diesel fuel or used
as such, and is suitable for all diesel engines.