Incap - Major shareholder announcements

ANNOUNCEMENT IN ACCORDANCE WITH CHAPTER 2, SECTION 9, OF THE SECURITIES MARKET ACT ON A CHANGE IN HOLDINGS

INCAP CORPORATION  STOCK EXCHANGE ANNOUNCEMENT 24 May 2007 at 9 a.m.


In accordance with chapter 2, section 9, of the Securities Market
Act, Ilmarinen Mutual Pension Insurance Company has reported us that
they have on 21 May 2007 subscribed for the convertible promissory
notes entitling them to subscribe for 400,000 shares of Incap
Corporation. If Ilmarinen Mutual Pension Insurance Company applies
the subscription right in its entity, their holdings of the share
capital and votes of Incap Corporation exceeds 5%.

The issuing company and its business ID: Incap Corporation, 0608849-6

Date of transaction of convertible promissory notes leading to change
in holdings:  21 May 2007

Present proportion of votes and share capital:



Shareholder                Business ID  Number of Percentage of share
                                       shares and   capital and votes
                                            votes
Ilmarinen Mutual Pension   0107638-1      500,000               4,10%
Insurance Company


New proportion of votes and share capital, if the convertible
promissory notes subscribed by Ilmarinen are converted into new
shares and if the share capital in the trade register remains
unchanged:



Shareholder                Business ID  Number of Percentage of share
                                       shares and   capital and votes
                                            votes
Ilmarinen Mutual Pension   0107638-1      900,000               7,39%
Insurance Company



INCAP CORPORATION


Hannele Pöllä
Director, Communications and IR
Tel. +358 40 504 8296


DISTRIBUTION
Helsinki Stock Exchange
Principal media

INCAP IN BRIEF
Incap Corporation is a fast-growing electronics contract manufacturer
whose comprehensive service covers the entire product life cycle from
design and manufacture to repair and maintenance services. The
company's main customer sectors are leading equipment suppliers in
telecommunications, electrical power technology, the automation and
process industries as well as measurement technology, safety
electronics and health care. The Incap Group's revenue amounted 2006
of EUR 89 million and the company currently employs approx. 540
persons. Incap's share is listed on the Helsinki Stock Exchange and
it is a component of the Nordic Small Cap list within the information
technology sector. For additional information, please visit
www.incap.fi