Panostaja Oyj - Company Announcement

NEW CEO TO START AT PANOSTAJA'S SUBSIDIARY LÄMPÖ-TUKKU OY

Panostaja Oyj            Stock Exchange Bulletin 9 November 2011     1:00 p.m.



NEW CEO TO START AT PANOSTAJA'S SUBSIDIARY LÄMPÖ-TUKKU OY

Jouko Tyrkkö, the CEO of Panostaja Oyj's subsidiary Lämpö-Tukku Oy, is released
from his duties with immediate effect, and his contract as the CEO has been
terminated today. As of 9 November 2011, M.Sc.(Econ.) S. Martti Niemi has been
elected the new Lämpö-Tukku CEO, who will first take on the position as CEO
under a fixed-term contract. Previously, he has worked as a management
consultant and, among other posts, as the CEO at B&B Tools Finland Oy. 

In the Stock Exchange Bulletin released on 3 October 2011, Panostaja reported
that the sale of the operations of Lämpö-Tukku Oy was cancelled due to errors
detected in the inventory of the stock completed prior to the realization of
the sale. The errors total about MEUR 2, of which MEUR 0.2 is allocated to the
financial period which ended 31 October 2011. The remainder of the inventory
difference will be adjusted to the balance sheet against the profits from
previous years.

Panostaja Group's result management for the financial period closed will remain
unaltered. In accordance with the result management published on 7 September
2011, the Group's net sales are expected to grow approx. 15-20% during the 2011
financial year over the previous year. The profitability of the business areas
is estimated to improve significantly yielding a result to the Group of approx.
MEUR 2.2-3.0 for the financial year. 

Panostaja continues the investigation of the reasons resulting in the inventory
difference and will notify of them in more detail if necessary. 

Panostaja Oyj
Juha Sarsama
CEO

More information:

CEO
Juha Sarsama
Panostaja Oyj
040 774 2099

Panostaja Oyj is an active majority shareholder in Finnish SMEs. The core of
our operations is based on Finnish entrepreneurship and persevering the
development of entrepreneurial activity. Together with our entrepreneur
partners, we are cultivating companies to become the best in the field and are
thereby creating Finnish success stories. Panostaja Oyj currently operates in
twelve business areas. Panostaja Group's net sales for the 2010 financial
period stood at MEUR 140.5 without the effect of the divestments realized over
the financial period.