The authorization of the Board of Directors

The authorizations of the Board of Directors approved by the Annual General Meeting on 14 March 2006:

The authorization of the Board of Directors to decide on an increase of the share capital in a directed share issue

The Annual General Meeting authorized the Board of Directors to decide on increasing the share capital and/or issuing convertible bond loans within one year after the close of the General Meeting in a manner by which the new shares subscribed on the basis of a new share issue and convertible bonds may raise the share capital by a maximum of EUR 58,493.60.

The authorization entitles the Board to waive the pre-emptive rights of shareholders and to decide on the basis for pricing the shares, the subscription price and other conditions. The Board of Directors has the right to decide that new shares and convertible bonds issued may be subscribed against property given as subscription in kind or on other special terms.

The authorization of the Board of Directors to acquire the company's own shares

The Annual General Meeting authorized the Board of Directors to acquire within one year from the Annual General Meeting a maximum of 731,170 of the company's own shares with the available profit distributable earnings - but not in such a way as to increase the book value or the number of votes produced by the shares belonging to the company or its subsidiaries to more than ten (10) per cent of the company's share capital or the total votes produced by them.

The shares will be acquired independently of the ownership proportions in public trading at the Helsinki Stock Exchange. The shares will be acquired for the going price determined by the public trade on the time of the acquisition.

The authorization of the Board of Directors to convey the company's own shares

The Annual General Meeting authorized the Board to convey within one year from the Annual General Meeting a maximum of 731,170 of the company's own shares acquired by the company. The total counter value of the shares to be conveyed or their votes may not, together with authorization for the increase of the share capital and total vote of these shares in this annual General Meeting, exceed one fifth of the share capital and of the total number of the votes registered at the time of the authorization and the Board of Director's decision to increase the share capital.

The Board of Directors is authorized to decide on to whom and in what order the company's shares will be conveyed. The shares can be conveyed waiving the shareholders' pre-emptive right for corporate acquisitions or other arrangements. The shares may also be transferred in public trading over the Helsinki Stock Exchange.

The Board of Directors may decide that the shares can be conveyed against compensation other than money.

 

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