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Elektrobit Group Oyj - EB PLANS TO CLOSE ITS SITE IN ESPOO TO RATIONALIZE ITS OPERATIONS AND IMPROVE THE COST STRUCTURE

March 12, 2012

EB PLANS TO CLOSE ITS SITE IN ESPOO TO RATIONALIZE ITS OPERATIONS AND IMPROVE THE COST STRUCTURE


PRESS RELEASE

Free for publication on March 12, 2012 at 12.30 p.m.

EB PLANS TO CLOSE ITS SITE IN ESPOO TO RATIONALIZE ITS OPERATIONS AND IMPROVE THE COST STRUCTURE

In order to rationalize its operations and improve the cost structure, EB (Elektrobit) plans to close its Wireless Business Segment site in Espoo and consolidate operations in Finland in its larger units in Oulu, Kajaani and Tampere. EB announced today to engage in personnel negotiations with the Espoo site personnel. The negotiations concern 25 employees.

Should the negotiations result in closure of the site, EB intends to offer positions for each employee at other sites in Finland. EB has approximately 500 employees in Finland.

The possible closing of the site has no significant effect on EB's net sales, operating result or balance sheet in 2012.

Further information:
Hannu Huttunen
President, Wireless Business Segment
Tel. +358 40 344 3507

Distribution:
Major media

EB, Elektrobit Corporation
EB develops advanced technology and transforms it into enriching end-user experiences. EB specializes in demanding embedded software and hardware solutions for the automotive industry and wireless technologies. The company's net sales for the year 2011 totaled EUR 162.2 million. Elektrobit Corporation is listed on NASDAQ OMX Helsinki. www.elektrobit.com