Panostaja Oyj - Company Announcement

TAX RECTIFICATION BOARD'S DECISION ON THE TAXATION OF PROFITS FROM PANOSTAJA'S FIXED ASSET SHARES

Panostaja Oyj              Stock Exchange Bulletin 28th August 2009 01:50 p.m.  

TAX RECTIFICATION BOARD'S DECISION ON THE TAXATION OF PROFITS FROM PANOSTAJA'S  
FIXED ASSET SHARES                                                              

In the preliminary ruling on the Equity Rebate in respect of Takoma Oyj shares  
in spring 2008, the Tax Office for Major Corporations decided on the basis of an
overall assessment that Panostaja was a capital investor within the meaning of  
section 6 of the Finnish Business Tax Act. For capital investors, capital gains 
from fixed asset shares are considered taxable income.                          

In its taxation by direct assessment in 2007 and 2008, the Tax Office for Major 
Corporations regarded Panostaja Oyj as a capital investor in the aforementioned 
sense and taxed the company's certain profits gained from the sale of shares in 
fixed assets. Panostaja Oyj submitted a claim for rectification regarding the   
2007 taxation to the Tax Rectification Board claiming that the capital gain from
the sold fixed asset shares should be exempt from tax.                          

The Tax Rectification Board has denied Panostaja Oyj's claim for rectification  
and deemed Panostaja a capital investor. Panostaja Oyj will appeal the decision 
to the Administrative Court of Helsinki.                                        

Panostaja Oyj                                                                   


Juha Sarsama                                                                    
Managing Director                                                               


Additional information:                                                         

Juha Sarsama, Managing Director, tel. +358 40 774 2099