CapMan - Company Announcement

Norvestia Oyj has supplemented its statement concerning the voluntary public exchange offer by CapMan and maintains its recommendation

CapMan Plc      Stock Exchange Release           7 December 2016 at 2.15 p.m.
EET

This stock exchange release may not be published or distributed, in whole or in
part, directly or indirectly, in or into or to any person located or a resident
of the United States of America, Australia, Canada, Hong Kong, Japan, New
Zealand, South Africa, or any other country where such publication or
distribution would violate applicable regulation or would require additional
measures in addition to the requirements under Finnish law.

Norvestia Oyj has supplemented its statement concerning the voluntary public
exchange offer by CapMan and maintains its recommendation

Norvestia Oyj ("Norvestia") has today announced it has supplemented its
statement issued 18 November 2016 concerning CapMan Plc's ("CapMan") voluntary
public exchange offer published 3 November 2016 to acquire all Norvestia's
shares and securities entitling to shares ("Exchange Offer") due to the updated
Net Asset Value published by Norvestia today.

Norvestia's Board of Directors has announced that it has assessed the impact of
the updated Net Asset Value on the Exchange Offer and the Board's recommendation
issued 18 November 2016, taking particularly into account the currently ongoing
offer period of the Exchange Offer and the Extraordinary General Meeting
convening 8 December 2016. Based on its evaluation and considering all the
factors and viewpoints mentioned in its stock exchange release issued today, as
well as those presented in the statement dated 18 November 2016, under the
prevailing circumstances the Board of Directors of Norvestia still unanimously
recommends that Norvestia's shareholders accept CapMan's Exchange Offer and
keeps its recommendation to the holders of the subscription rights unchanged.

Norvestia's stock exchange release concerning the supplement to its statement
and the statement attached to Norvestia's stock exchange release are attached in
their entirety to this stock exchange release.

CapMan will submit the supplement to the offer document concerning Norvestia's
supplemented statement to be approved by the Financial Supervisory Authority,
without delay.



CAPMAN PLC



For additional information, please contact:
Pasi Erlin, General Counsel, CapMan Plc, p. +358 400 571 113



Distribution:
Nasdaq Helsinki
Principal media
www.capman.com



Appendix 1: Norvestia Oyj's Stock Exchange Release on 7 December 2016 at 10.15
EET

Appendix 2: Norvestia Oyj's Board Statement 18 November 2016 attached to the
Stock Exchange Release on 7 December 2016 at 10.15 EET



CapMan

www.capman.com
www.capman.com/exchange-offer



CapMan is a leading Nordic investment and asset management company. For more
than 25 years, we have been developing companies and real estate and supporting
their sustainable growth. We are committed to understanding the needs of our
customers in an ever-changing market environment. Our objective is to provide
attractive returns and innovative solutions for our investors and value adding
services for professional investment partnerships, growth-oriented companies and
tenants. Our independent investment partnerships - Buyout, Real Estate, Russia
and Nest Capital - as well as our associated company Norvestia are responsible
for investment activities and value creation. CapMan's service business offering
includes fundraising advisory services, purchasing activities and fund
management services to both internal and external customers. CapMan has 100
professionals and assets under management of €2.8 billion.



Important Notice

This release may not be released or otherwise distributed, in whole or in part,
in or into or to any person located or a resident of the United States of
America, Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or any
other jurisdiction where prohibited by applicable laws or rules. This release is
not a share exchange offer document or a prospectus and as such does not
constitute an offer or invitation to make a sales offer. Investors shall accept
the exchange offer for the shares only on the basis of the information provided
in an exchange offer document and prospectus in respect of the exchange offer.
Offers will not be made directly or indirectly in any jurisdiction where either
an offer or participation therein is prohibited by applicable law or where any
exchange offer document or registration or other requirements would apply in
addition to those undertaken in Finland.

The exchange offer document and prospectus in respect of the exchange offer as
well as related acceptance forms will not and may not be distributed, forwarded,
or transmitted into, in, or from any jurisdiction where prohibited by applicable
law. In particular, the exchange offer is not being made, directly or
indirectly, in or into, Australia, Canada, Hong Kong, Japan, New Zealand, South
Africa, or the United States of America. The exchange offer cannot be accepted
from within Australia, Canada, Hong Kong, Japan, New Zealand, South Africa, or
the United States of America.

CapMan's shares have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "Securities Act"), or under any of the
relevant securities laws of any state or other jurisdiction of the United States
of America. CapMan's shares may not be offered or sold in the United States,
except pursuant to an exemption from the Securities Act or in a transaction not
subject to the registration requirements of the Securities Act.

Certain statements herein which are not historical facts, including, without
limitation, those regarding expectations for general economic development and
the market situation, expectations for the combined company's development and
profitability and the realization of synergy benefits and cost savings, and
statements preceded by "expects", "estimates", "forecasts" or similar
expressions, are forward-looking statements. These statements are based on
current decisions and plans and currently known factors. They involve risks and
uncertainties which may cause the actual results to materially differ from the
results currently expected for the combined company. Such factors include, but
are not limited to, general economic conditions, including fluctuations in
exchange rates and interest levels which influence the operating environment and
profitability of customers and thereby the orders received by the combined
company and their margin; the competitive situation; the combined company's own
operating conditions, such as the success of production and product development
and their continuous development and improvement; and the success of future
acquisitions.


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Attachments:

Appendix 1 Norvestia Plc Stock Exchange Release 07122016.pdf

Appendix 2 Norvestia Board Statement 18 November 2016.pdf