Stock Exchange & Press Releases 2002

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Elektrobit Group Oyj - ELEKTROBIT HAS ACQUIRED THE PREMISES IN OULUNSALO

December 23, 2002

ELEKTROBIT HAS ACQUIRED THE PREMISES IN OULUNSALO


Kiinteistöosakeyhtiö Tutkijantie 7, a real estate company belonging to Elektrobit Group, and Varma-Sampo, Mutual Pension Insurance Company, have signed a purchase agreement on premises and a lease of approximately five hectares area in Oulunsalo. The VAT-excluded purchase price is approximately 11 million euros and the acquisition is financed with a long-term loan.
 
The Group has operated in the Oulunsalo premises as a lessee of Varma-Sampo on the basis of a long-term lease agreement since 1999. The acquisition of the real estate has a positive effect of approximately 0.7 million euros on the Elektrobit Group's operating profit for the year 2003 and a positive effect of approximately 0.25 million euros on the Elektrobit Group's profit before taxes for the year 2003. In addition the acquisition enables more flexible economical exploitation of the premises.
 
Oulunsalo, December 23, 2002
 
Elektrobit Group Plc.
The Board of Directors