CapMan Plc Stock Exchange Release 29 January 2007 at 9.00 a.m. CapMan sells majority in Moventas to Industri Kapital The funds managed by CapMan and Industri Kapital 2004 fund have signed an agreement according to which CapMan funds will sell the majority of their shareholding in Moventas Oy to Industri Kapital. CapMan Plc is a substantial investor in the CapMan Equity VII fund that will partially exit from Moventas and the impact of the transaction on CapMan's result for 2007 is EUR 1.5 million as a result of fair value gains of the fund investment. Fair value gains totalling EUR 1.0 million from the increase in Moventas' value were entered also in CapMan's result for the last quarter of 2006. Moventas Oy is a leading manufacturer of industrial and wind turbine gears as well as provider of gear maintenance and service. The announced transaction is subject to approval from competition authorities and it is expected to be closed in the first quarter of 2007. Industri Kapital 2004 fund will make the transaction on behalf of a new company, and following the transaction it will own 58% of Moventas, Varma will own 4%, the management 22% and CapMan funds 16%. CapMan's representative will continue in Moventas' Board of Directors after the closure of the transaction. In connection with the transaction CapMan Mezzanine IV and Finnmezzanine III funds will exit from Moventas in total. CapMan funds invested in Moventas in April 2005, when they acquired the then Metso Drives from Metso Corporation. The funds' ownership in Moventas was 77% prior to the transaction, Varma's ownership was approx. 17% and the management's share was approx. 6%. The investment has been very good for the investors in funds managed by CapMan, as the realisation has an approx. fourfold return on investment to investors. "The strong technical knowledge and good customer relationships built during Metso's ownership have created solid ground for Moventas' rapid growth and improved profitability. During CapMan's ownership the increase in sales has been very fast especially in wind turbine gears. The company has made significant investments, and the current capital expenditure program aims at doubling the volumes. The announced transaction is a natural step in the development of Moventas," comments Orvo Siimestö, Senior Advisor at CapMan. "We are delighted to be acquiring Moventas, which benefits from a leading position as an independent major wind gear manufacturer with a strong position in selected industrial market segments. We are looking forward to working with the management team and CapMan, to bring the company to its next stage of development. We will continue organic expansion by leveraging Moventas' unique position, focusing on supporting the company in enhancing operational excellence and in particular on improving customer services. We will also pursue acquisition led growth," says Michael Rosenlew, Partner at Industri Kapital. "We clearly see this change as further enhancing our capabilities in capturing the future market potential in both business areas, Wind Gears and Industrial Gears. Along with our expertise and ongoing significant investments, the new ownership base will provide us with additional strength for pursuing growth in the future," states Ilkka Hakala, President and CEO of Moventas. Press Conference: We would like to invite the media and analysts to a Finnish press conference today, 29 January 2007 at 11.00 a.m. in CapMan's headquarters, address Korkeavuorenkatu 32, Helsinki. CEO Heikki Westerlund and Senior Advisor Orvo Siimestö from CapMan, Partner Michael Rosenlew from Industri Kapital and President and CEO Ilkka Hakala from Moventas will be present at the event. The presentation will be shown on CapMan's Internet pages when the press conference has commenced. For further information, please contact: Orvo Siimestö, Senior Advisor, CapMan Buyout, tel. +358 40 562 0317 Heikki Westerlund, CEO, CapMan Plc, tel. +358 9 6155 8304 or +358 50 559 6580 Michael Rosenlew, Partner, Industri Kapital, tel. +46 8 678 95 25 Ilkka Hakala, President and CEO, Moventas Oy, tel. +358 20 184 7600 CAPMAN PLC Jerome Bouix Partner Fundraising, IR and Communications DISTRIBUTION Helsinki Exchanges Principal media www.capman.com CapMan CapMan, one of the leading private equity investors in the Nordic countries, manages Nordic buyout, mezzanine, technology, life science and real estate funds with approximately EUR 2.6 billion in total capital. Each investment area has a dedicated team and altogether CapMan employs around 100 people in Helsinki, Stockholm, Copenhagen and Oslo. Established in 1989, CapMan has strong experience as a fund manager and as a partner for investors and entrepreneurs. To date CapMan has made over 150 Nordic investments and over 90 exits. The current portfolio encompasses over 60 companies with an aggregate turnover of approx. EUR 2.5 billion and aggregate personnel of 17,000 people. The latest investments are made in Finnish Komas Oy, Danish ScanJour A/S, Swedish QuickCool AB and Norwegian InfoCare ASA. In addition, CapMan has invested in 23 commercial properties in the Helsinki metropolitan area. CapMan has announced the sale of 22 properties to an international investor group and the transaction is expected to be closed by the end of January 2007. The B shares of CapMan Plc are listed on the Main List of the Helsinki Stock Exchange since 2001. www.capman.com Moventas Moventas, formerly Metso Drives, is one of the leading experts in mechanical power transmission. The company designs, manufactures and markets mechanical power transmission solutions and services for the process and energy industries. In 2006, the company generated net sales of EUR 207 million, growth of 25% compared to the previous year. The company has close to 1,000 employees in Finland, Germany, Sweden, Canada, the USA and Singapore. For more information: www.moventas.com Industri Kapital Industri Kapital is a European private equity firm with Nordic roots, managing close to 4 billion euros in fund commitments. Since 1989, Industri Kapital has acquired 61 European companies. The current portfolio encompasses 23 companies with a total turnover close to 8,5 billion euros. Industri Kapital invests mainly in mid-sized companies with strong cash flow and profit improvement potential, operating in mature industries with fundamental underlying growth.Current investments in Finland include Tradeka, Dynea, Eltel Networks and CPS Color. Previous IK investments in Finland include Enermet Group and Consolis, Paroc, Noviant and KCI Konecranes. For further information: www.industrikapital.com