NOTICE OF ANNUAL GENERAL MEETING OF VACON PLC

Vacon Plc, Stock Exchange Release, 9 March 2007

The shareholders of Vacon Plc are invited to attend the Annual
General Meeting of Shareholders scheduled at 3 p.m. on Wednesday 28
March 2007. The meeting will be held at Vacon Plc's headquarters at
the address Runsorintie 7, 65380 Vaasa, Finland.

The following matters will be on the agenda:

1.      The matters referred to in Article 12 of the Articles of
Association and Chapter 5, Section 3 of the Companies Act

2.      Proposal of the Board of Directors to amend the Articles of
Association

The Board of Directors proposes to the Annual General Meeting of
Shareholders that the Articles of Association are amended, mainly due
to the new Companies Act, which entered into force on 1 September
2006, as follows:

-          the provisions regarding the maximum and minimum share
capital of the company and the nominal value of the shares are
removed as redundant (Sections 3 and 4);
-          the provision concerning the term of office of the members
of the Board of Directors is removed as redundant and the provision
regarding the minimum amount of board members is changed to five
(Section 5);
-          Section 7 regarding the right to sign for the company is
amended to correspond to the wording of the new Companies Act;
-          Section 8 regarding the granting of procurations is
removed as redundant;
-          the auditor's term of office is changed to continue one
year at a time in accordance with the presumption rule of the new
Companies Act, as a result of which the provision regarding the
auditor's term of office is removed as redundant (Section 9);
-          Section 11 regarding the notice of General Meeting is
amended to the effect that notices can be delivered not earlier than
three months prior to the General Meeting instead of the current two
months;
-          the list of matters to be considered at the Annual General
Meeting of Shareholders is amended to correspond to the new Companies
Act (Section 12);
-          Section 13 regarding the redemption obligation of a
shareholder is removed as redundant;
-          the first sentence of Section 14 is simplified and the
provisions regarding the record date are removed as redundant; and
-          the numbering of the sections in the Articles of
Association is amended accordingly due to the above amendments.

3.  Proposal of the Board of Directors to authorize the Board of
Directors to resolve to repurchase the company's own shares

The Board of Directors proposes that the Annual General Meeting of
Shareholders authorizes the Board of Directors to use the company's
non-restricted equity to repurchase a maximum of 1,529,500 own
shares. The maximum number of shares that can be repurchased
corresponds to ten (10) percent of the total number of shares in the
company.

The shares will not be repurchased in proportion to the holdings of
the shareholders (directed repurchase of shares) as the repurchase of
shares is executed by purchasing shares through public trading.
Shares can be repurchased by the company at the market price
prevailing at the time of the repurchase through such public trading.

Shares can be repurchased for the purpose of developing the capital
structure of the company, implementing incentive programs for the
company's key personnel, paying salaries or fees, financing of
potential corporate acquisitions or other transactions or for such
other purposes as the Board of Directors decides. The Board of
Directors shall be authorized to decide on the manner and other
conditions for the repurchase of the company's own shares.

The authorization shall be valid for eighteen (18) months as of the
date of the decision of the Annual General Meeting of Shareholders.

4.  Proposal of the Board of Directors to authorize the Board of
Directors to dispose of own shares held by the company through share
issue

The Board of Directors proposes that the Annual General Meeting of
Shareholders authorizes the Board of Directors to resolve to dispose
of shares in the company held by the same in one or several
installments through share issue. The maximum amount of own shares to
be disposed of based on the authorization is 1,529,500 shares.

The authorization shall include the right for the Board of Directors
to decide on all terms and conditions on which the shares shall be
disposed of and the shares can, thus, be disposed of by derogation
from the pre-emptive rights of the shareholders (directed share
issue).

The authorization shall be valid for five (5) years as of the date of
the decision of the Annual General Meeting of Shareholders.

Documents on display for public inspection

Copies of the financial statements and the above mentioned proposals
of the Board of Directors will be available for shareholders to view
as of Wednesday 21 March 2007 on Vacon Plc's web site
(www.vacon.com). Copies of the documents will be sent to the
shareholders upon request.

Composition and fees of the Board of Directors

The Board of Directors proposes, based on the proposition of the
company's Remuneration and Nomination Committee, that the number of
members of the Board of Directors be confirmed as six (6) an that
Pekka Ahlqvist, Jari Eklund, Kalle Heikkinen, Mauri Holma, Jan Inborr
and Veijo Karppinen are re-elected as members of the Board of
Directors. All the proposed persons have given their consent to the
duty.  The proposal of the Board of Directors is also supported by
shareholders representing more than ten (10) per cent of the votes in
the company.

The Board of Directors proposes, based on the proposition of the
company's Remuneration and Nomination Committee, that the basic fee
of the members of the Board of Directors shall be EUR 1,000 a month
and that an additional fee of maximum EUR 2,000 shall be paid to the
members of the Board of Directors. The additional fee is determined
based on the development of the company's turnover and operating
profit for the fiscal year 2007. It is proposed that the Chairman of
the Board of Directors is paid twice the basic fee and the additional
fee of the members of the Board of Directors.

Auditor

According to the Articles of Association the auditor is elected to
the assignment for in indefinite period. The Board of Directors
proposes that the current auditor of the company, KMPG Oy Ab,
continues its assignment.

Right to attend

Attendance at the Annual General Meeting of Shareholders is open to
shareholders who by 18 March 2007 have been entered as shareholders
in the company's Shareholders' Register, which register is kept by
the Finnish Central Securities Depository Ltd. Holders of nominee
registered shares intending to attend and vote at the Annual General
Meeting of Shareholders shall notify their custodian well in advance
of their intention and comply with the instructions provided by the
custodian. Holders of nominee registered shares can be temporarily
recorded in the Shareholders' Register so that the recording is
effective on 18 March 2007. The registration must be in place on 18
March 2007.

Notification of participation

A shareholder, who in view of the above, is entitled to attend the
Annual General Meeting of Shareholders and who wishes to use his/her
voting right at the Annual General Meeting of Shareholders shall
register no later than on Wednesday 21 March 2007 at 4.00 p.m.
Finnish time. A shareholder can register by sending a letter to Vacon
Plc, Johanna Koskinen, Runsorintie 7, FI - 65380 Vaasa or by
telephone +358 201 212 528 or by telefax +358 201 212 208 or by
e-mail at the address johanna.koskinen@vacon.com. The registration
shall be received by Vacon Plc prior to the expiration of the
registration period. Any proxy, by which the holder of the proxy
wishes to exercise his/her voting right at the meeting should be
submitted to Vacon Plc before the expiration of the registration
period.

Dividend

The Board of Directors has decided to propose to the Annual General
Meeting of Shareholders that a dividend of EUR 0.65 per share shall
be paid for the fiscal year 2006. The dividend will be paid to
shareholders who have been entered as shareholders in the company's
Shareholders' Register, which is kept by the Finnish Central
Securities Depository Ltd, by the dividend record date 2 April 2007.
The dividend will be paid on 11 April 2007.

Vaasa, 9 March 2007

VACON PLC

Board of Directors

For more information please contact:

Vacon Plc
Mr. Vesa Laisi, President
Phone +358 40 837 1510

Distribution:
Financial Supervision Authority
Helsinki Exchange
Media