Neste Oil - Company Announcement

Neste Oil's Nomination Committee's proposal for composition of the Board of Directors

Neste Oil Corporation
Stock Exchange Release
1 February 2011 at 9 am (EET)

Neste Oil's Nomination Committee's proposal for composition of the Board of
Directors

The Nomination Committee, established by Neste Oil Corporation's Annual General
Meeting on 15 April 2010, will propose to the Annual General Meeting to be held
on 14 April 2011 that the company's Board of Directors should comprise the
following members:

Mr Timo Peltola should be re-elected as the Chairman of the Board. Board members
Mr Michiel Boersma, Ms Maija-Liisa Friman, Ms Nina Linander, Mr Hannu Ryöppönen
and Mr Markku Tapio should be re-elected for a further term of office. The
Nomination Committee's candidates for new Board members are Licenciate of
Technology Ms Laura Raitio and M.Sc. (Tech.) Mr Jorma Eloranta. Mr Eloranta is
also proposed to be elected Vice Chairman.

All those concerned have given their consent to Board service. All the nominees
are considered independent, with the exception of Mr Markku Tapio, who is
employed by the majority owner, the Finnish State.

The Nomination Committee will also propose that the remuneration paid to the
Board of Directors should remain unchanged and be as follows:

Chairman EUR 66,000/year
Vice Chairman EUR 49,200/year
Member EUR 35,400/year
Meeting fee EUR 600/meeting

The meeting fee applies also to Board's committee meetings, and is proposed to
be paid in double for the members living outside of Finland.

Shareholders' Nomination Committee was appointed in November 2010. According to
the decision made by the Annual General Meeting, the Nomination Committee
consisted of the representatives of the three largest shareholders as of 1
November 2010. The Nomination Committee comprised following persons: Director
General Pekka Timonen from the Ownership Steering Department at the Prime
Minister's Office; Timo Ritakallio, Deputy CEO, Ilmarinen Mutual Pension
Insurance Company; and Mika Kivimäki, Managing Director, OP Fund Management
Company Ltd. The Chairman of Neste Oil's Board of Directors Timo Peltola served
as the Committee's expert member.

There is career and other relevant information on all persons proposed for Board
service at www.nesteoil.com. In addition, information on Mr Eloranta and Ms
Raitio, who are proposed to be elected as new Board members, is attached.

Neste Oil Corporation
Hanna Maula
Director, Corporate Communications

Further information: Mr Timo Peltola, Chairman of the Board, tel. +358 (0)10
458 11

Attachments:
Laura Raitio's CV and photo
Jorma Eloranta's CV and photo


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 9.6 billion in 2009 and employs
around 5,000 people. Neste Oil's share is listed on the NASDAQ OMX Helsinki.

Neste Oil is included in the Dow Jones Sustainability World Index and the
Ethibel Pioneer Investment Register. Neste Oil has also been awarded 'Best in
Class' recognition for its social accountability by Storebrand and is featured
in the Global 100 list of the world's most sustainable companies. Forest
Footprint Disclosure (FFD) has ranked Neste Oil as the best performer in the oil& gas sector. Further information: www.nesteoil.com.


[HUG#1484059]

Attachments:

Laura Raitio s photo.jpg

Jorma Eloranta s photo.jpg

Jorma Eloranta s CV.pdf

Laura Raitio s CV.pdf