Iittala Group Plc Stock exchange release 27 March 2007 at 1.10 p.m. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN. AA CAPITAL NORDIC FUND B.V. WILL NOT SELL ITS HOLDING IN IITTALA GROUP PLC AND IITTALA GROUP'S OFFERING IS CANCELLED AA Capital Nordic Fund II. B.V., Iittala Group Plc's (the "Company") principal owner, has today on 27 March 2007 resolved not to sell its holding in Iittala Group Plc. As a result, the Board of Directors of the Company has decided to cancel the offering and withdraw the application with the Helsinki Stock Exchange regarding the listing. AA Capital Nordic Fund II B.V. has today announced the following: "We believe in Iittala Group as an investment and a company. The lower end of the preliminary price range set for the Company's shares attracted very strong interest. However, this did not correspond with our view on the value of the Company." "The preliminary price range of the offering was set in quite an unstable period of time when the stock prices all around the world had weakened significantly. As far as we can see, the market has now stabilised. For this reason we set a fixed subscription price last week which represented the mid-point of the preliminary price range." "At the fixed subscription price set by us, the demand for the shares was good. Nevertheless, we were not assured of a healthy secondary market development and as a result have decided to keep our investment." Iittala Group Plc's offering ended today on 27 March 2007 at noon (Finnish time). The terms and conditions of the offering were amended during the offering on 22 March 2007 as a result of which the subscription period was extended until today. Nordea Bank Finland Plc, the Manager of the retail offering, will return the funds paid pursuant to subscription commitments to the subscribers in accordance with the terms and conditions of the offering. Due to the withdrawal of the application regarding listing, the Company will not be obliged to comply with the rules of the Helsinki Stock Exchange in the future. Iittala Group Plc Board of Directors For further information, please contact: Karsten Borch Iittala Group, Chairman of the Board tel. +45 2463 1301 Johan Bjurström ABN AMRO Capital, Member of the Board in Iittala Group tel. +46 707 41 5480 Tero Vähäkylä Iittala Group, President and CEO tel. 0204 39 5306 Elina Björklund Iittala Group, Group Director tel. 0204 39 5761 Distribution: Helsinki Stock Exchange Main media This document is not a prospectus and as such does not constitute an offer to sell securities. Investors should not subscribe for any securities referred to in this document, except on the basis of the information contained in a prospectus. Offers will not be made directly or indirectly in any jurisdiction where prohibited by applicable law or where any registration or prospectus or other requirements would apply in addition to those undertaken in Finland. These materials are not an offer for sale of securities in the United States or in any jurisdiction of the European Economic Area. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Iittala Group has not registered, and does not intend to register, any portion of any offering of its securities in the United States, and does not intend to conduct a public offering of its securities in the United States. This press release may not be distributed or sent into the United States, Australia, Canada or Japan. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The Offer Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Offer Shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this press release or any of its contents. This press release is an advertisement for the purposes of applicable measures implementing Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive, the “Prospectus Directive”). A prospectus prepared pursuant to the Prospectus Directive will be published, which, when published, can be obtained from the Finnish places for subscription. Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Prospectus Directive is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive. This press release includes forward-looking statements. These forward-looking statements include all matters that are not historical facts, statements regarding Iittala Group's intentions, beliefs or current expectations concerning, among other things the Iittala Group's results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which Iittala Group operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, and speak only as of the date they are made. Iittala Group cautions you that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which Iittala Group operates may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if Iittala Group's results of operations, financial condition and liquidity and the development of the industry in which Iittala Group operates are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. Iittala Group does not undertake any obligation to review or confirm expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this press release. Stabilization/FSA
AA CAPITAL WILL NOT SELL ITS HOLDING IN IITTALA GROUP PLC AND THE OFFERING IS CANCELLED
| Source: Iittala Group Oyj