Aspocomp Group - Company Announcement

ASPOCOMP S CHINESE AND INDIAN SUBSIDIARIES INTO A NEW JOINT VENTURE ESTABLISHED WITH MEADVILLE

Aspocomp Group Oyj   Company Announcement  November 8, 2007 at 5:50
pm

Aspocomp has today signed an agreement according to which it will
contribute its shareholdings in its subsidiaries in China and India
as well as certain equipment from its Salo plant to a new holding
company. 80 percent of the shares of the holding company will be sold
to Meadville Holdings Limited, a Hong Kong listed parent company of
the Meadville Group. Aspocomp will remain a minority owner with 20
percent ownership.

The assets to be contributed to the joint venture by Aspocomp are
valued at about EUR 77 million. Meadville will pay about EUR 61
million for its 80 percent holding in the joint venture. Aspocomp
will use about EUR 40 million of this consideration to repay its loan
to Standard Chartered Bank in full and about EUR 8 million to repay
the working capital facilities of its Chinese subsidiary. The balance
of the consideration will be used to partially repay Aspocomp's
interest bearing liabilities in Finland and to improve its liquidity.

The parties have agreed that they may either list the joint venture
at the earliest in year 2012, or alternatively the parties may
exercise mutual put and call option rights concerning Aspocomp's 20
percent shareholding at the earliest in year 2013. In addition, the
parties have agreed on the pricing principles to be used to value the
put and call option rights for Aspocomp's 20 percent holding. The
pricing will be based on the highest of the following figures: either
5.5 times EBITDA, or net asset value of the joint venture, or the
agreed minimum price. The agreed minimum price is the initial value
of Aspocomp's 20 percent holding in the joint venture.

As part of the agreement, Meadville will also acquire 10 percent
ownership of Aspocomp's subsidiary in Oulu, Finland. Aspocomp's
holding in its Thai subsidiary will remain unaffected.

Following the negotiated transaction, Aspocomp's assets would
comprise 20 percent shareholding of the new joint venture, 90 percent
shareholding of Aspocomp's Oulu subsidiary, about 87 percent
shareholding of Aspocomp's Thai subsidiary, about 15 percent
shareholding of Imbera Inc and real estates in Salo and Oulu.

Simultaneously with this transaction, Aspocomp has agreed with its
Finnish bank creditors on adjustments to the terms of its
liabilities. However, the financial position of Aspocomp will remain
weak.

The agreement with Meadville is subject to approval of the
Extraordinary General Meeting of Aspocomp. The companies expect to
finalize the transaction by the end of November 2007.


For further information, please contact:

Maija-Liisa Friman, CEO, Aspocomp Group Oyj, tel. +358 9 7597 0711
www.aspocomp.com

Canice Chung, CEO, Executive Director, Meadville Holdings Limited,
tel. +852 2660 3120
www.meadvillegroup.com


ASPOCOMP GROUP OYJ



Maija-Liisa Friman
President and CEO

Aspocomp:

The Aspocomp Group develops and offers high technology
interconnection solutions for the electronics industry in close
cooperation with its customers. Aspocomp supplies printed circuit
boards for mobile data terminal equipments, data communications
networks and automotive industry. The company supports its global
customers in developing new technologies and offers a fast route from
product development to applications and volume production. The
Group's production facilities are located in Finland, China and
Thailand. In 2006, its net sales stood at EUR 149 million and it had
about 3,350 employees. Further information: www.aspocomp.com

The Meadville Group:

Founded in 1985 and headquartered in Hong Kong, the Meadville Group
is one of the leading PCB manufacturers in the People's Republic of
China by turnover. In 2005, the company had turnover of HK$ 2,217
million and net profit of HK$ 240 million. Meadville focuses on
high-end PCB products. In addition to the ability to mass produce a
wide range of PCB products, it provides a "one-stop shop" service to
its customers, from PCB layout design to small volume quick-turn
production of PCBs, including prototypes, to large volume mass
production of PCBs. Meadville currently operates a total of five PCB
plants in China. Many of its customers are based in the People's
Republic of China, Japan, Korea, North America and Europe. Further
information: www.meadvillegroup.com


Distribution:
The Nordic Exchange
Major media
www.aspocomp.com