Panostaja Oyj Stock Exchange Bulletin, 13th April 2007 PANOSTAJA ACQUIRES KL-VARAOSAT Panostaja group closed a deal today to acquire the entire share capital of the KL-Varaosat group of companies, specialising in the supply of original Mercedes-Benz and BMW car spare parts, from Mr. Kari Lindfors. The KL-Varaosat companies will be formed into a new business area dealing with supply of original car spare parts for Panostaja Oyj. The KL-Varaosat companies hold a strong market position in terms of import, wholesale and retail of original Mercedes-Benz and BMW car spare parts and equipment with a customer base comprising repair shops, retailers and private consumers. The pro forma turnover of KL-Varaosat was around EUR 5.9 million in 2006. The company, that was founded in 1979 and employs 24 people, has an AAA credit rating and its profitability has remained good for a long time. The companies include KL-Varaosat Kari Lindfors Oy, Jyväskylän KL-Varaosat Oy and Rovaniemen KL-Varaosat Oy and have sites in Tampere, Jyväskylä and Rovaniemi, as well as 44 retailers and an on-line shop. The purchase price for the KL-Varaosat companies was about EUR 5.1 million and 300,000 of Panostaja Oyj's new Class B shares with a total purchase price amounting to about EUR 5.5 million. Additionally, the seller is entitled to a maximum conditional additional purchase price of about EUR 1.4 million. As part of the deal, the seller acquired the properties used by the companies in Tampere and Jyväskylä at market value. - The acquisition provides Panostaja with an expert in original German high-end brand spare parts and an efficient marketing organisation around which the new business area will be formed, says Olli Halmevuo, CEO of Panostaja Oyj. The amount of used Mercedes-Benz and BMW cars has increased significantly in Finland due to changes in vehicle taxation and Finland thus now has a remarkable number of cars no longer covered by repairs under warranty. - Panostaja wants to exploit the KL-Varaosat companies' particularly strong position in this market, says Olli Halmevuo. The aim is to increase the number of sites and retailers and sales of other German spare parts brands may even be launched. The seller and founding partner of the company, Mr. Kari Lindfors, will continue as Managing Director. According to Lindfors, the company had grown to the point where additional resources were needed. - Panostaja has the knowledge, the power as well as the will to develop the company further. I believe in the company's growth opportunities within its special field in the future too, says Lindfors. The turnover and operating profit of the KL-Varaosat companies in the financial year 1st Jan.-31st Dec. 2006 were as follows (FAS): (KL1 = KL-Varaosat Kari Lindfors Oy, KL2 = Jyväskylän KL-Varaosat Oy, KL3 = Rovaniemen KL-Varaosat Oy) (EUR 1,000) KL1 KL2 KL3 Turnover 4.859 1.856 758 Operating profit 720 206 59 The balance sheets read as follows: (EUR 1,000) KL1 KL2 KL3 Non-current assets 531 4 4 Stocks 813 352 169 Receivables 514 66 28 Financial assets 1,901 557 44 Total 3,760 979 245 Shareholders' equity 3,445 816 162 Creditors 315 163 83 Total 3,760 979 245 Due to the IFRS recording system, the trade is only expected to have a minimal effect on the current year's net profit, equity per share and earnings per share of Panostaja group. The trade has no significant effect on the equity ratio of the group. Panostaja Oyj Olli Halmevuo CEO For further information, please contact Mr. Olli Halmevuo, CEO, tel. +358 (0)3 263 4300 or +358 40 545 3767. Panostaja Oyj is a public limited company focusing on investment activities. The Group invests in Finnish small and medium-sized enterprises operating in traditional industries. Investments are mostly carried out through acquisitions. Panostaja Group invests business resources and strategic know-how in companies with the aim of developing the target company into a strong player in its field at which point it will continue operations as an independent growth company. Panostaja group's net turnover in 2006 was EUR 57.8 million. At present, the group operates in seven business areas.