STOCK EXCHANGE RELEASE Free for publication on February 6, 2008 at 8.00 am. (EET) EB, ELEKTROBIT CORPORATION'S ANNUAL GENERAL MEETING OF SHAREHOLDERS The shareholders of Elektrobit Corporation are invited to the Annual General Meeting on Friday, March 14, 2008 at 1.00 p.m. (EET) at the offices of Elektrobit Corporation, Automaatiotie 1, Oulunsalo. The meeting shall consider the following matters: 1. The matters to be resolved upon at the Annual General Meeting of shareholders according to chapter 5, section 3 of the Companies Act and to be considered at the Annual General Meeting of shareholders under section 8 of the Articles of Association 2. A proposal by the Board of Directors to amend the Articles of Association The Board of Directors proposes to the Annual General Meeting that the Articles of Association be amended. The content of the proposed amendments is the following: - Section 1 of the Articles of Association is amended so that the company's domicile is Oulu. - Section 2 of the Articles of Association concerning the company's field of activities is updated as follows: The company's field of activities is the development, production and selling of software, equipment and other products for the automotive and electronics industry, the production of R&D services and other services as well as other industrial operations. The company may administer product- and other rights and conduct research- and development operations, hold and trade securities and real-estate and conduct other investment activities. 3. A proposal by the Board of Directors to authorize the Board of Directors to repurchase shares of the company The Board of Directors proposes to the Annual General Meeting that the Board of Directors of the company be authorized to resolve on a repurchase of the company's own shares as follows. The number of repurchased own shares shall not exceed 12,500,000 shares, which represents approximately 9.66 per cent of all the shares of the company. Only unrestricted equity of the company can be used to repurchase own shares on the basis of the authorization. Own shares can be repurchased at a price formed in public trading on the date of repurchase or otherwise at a price formed on the market. The Board of Directors shall resolve how the repurchase of shares is carried out. The repurchase can be carried out by using, among others, derivatives. Shares may be repurchased in deviation from the shareholder's pre-emptive rights (directed repurchase of shares). The authorization is effective until 30 June 2009. 4. A proposal by the Board of Directors to authorize the Board of Directors to resolve on the issuance of shares and of stock options and other special rights entitling to shares The Board of Directors proposes to the Annual General Meeting that the Board of Directors of the company be authorized to resolve on the issuance of shares and of stock options and other special rights entitling to shares referred to in chapter 10, section 1 of the Companies Act as follows. The aggregate number of shares issued on the basis of the authorization may not exceed 25,000,000 shares, which represents approximately 19.32 per cent of all the current shares of the company. The Board of Directors is authorized to resolve on all the terms and conditions concerning the issuance of shares and of special rights entitling to shares. The authorization concerns both the issuance of new shares and the transfer of the company's own shares. Issuance of shares and of special rights entitling to shares can be carried out in deviation from the shareholder's pre-emptive rights (directed issue). The authorization is effective until 30 June 2009. 5. A proposal by the Board of Directors to issue stock options to key personnel of the Elektrobit Group The Board of Directors proposes to the Annual General Meeting that stock options be issued to key personnel of the Elektrobit Group. There is a weighty financial reason for the company to issue stock options, since the stock options are intended for use as part of the incentive and commitment program for key personnel. The maximum total number of stock options shall be 4,200,000, of which 1,400,000 shall be marked with the symbol 2008A, 1,400,000 shall be marked with the symbol 2008B and 1,400,000 shall be marked with the symbol 2008C. The stock options entitle to subscription of a maximum total of 4,200,000 new shares of the company or own shares held by it. The proportion of the shares that can be subscribed using the stock options to be issued will be a maximum total of 3.1% of the company's shares and associated voting rights after a possible share subscription, should new shares be issued in the subscription. The subscription price for the shares be subscribed based on the stock options shall be based on the prevailing market value of the Elektrobit Corporation share at OMX Nordic Exchange Helsinki Ltd in January 2009, January 2010 and January 2011. The subscription price will be recorded in the fund for invested unrestricted equity. The share subscription period for stock options 2008A shall be 1 April 2012-31 March 2014, for stock options 2008B 1 April 2013-31 March 2015, and for stock options 2008C 1 April 2014-31 March 2016. 6. Composition of the Board of Directors Shareholders representing altogether approximately 50.9 % of all the shares of the company have notified that they will propose to the Annual General Meeting of shareholders that the number of Board members is fixed to six and that the following persons are elected as Board members: J.T. Bergqvist, Jukka Harju, Juha Hulkko, Seppo Laine, Staffan Simberg and Erkki Veikkolainen. The persons proposed for the Board of Directors have in advance declared that, when elected, they will support the election of J.T. Bergqvist as semi-executive chairman of the Board. 7. Election of auditors Shareholders representing altogether approximately 50.9% of all the shares of the company have notified that they will propose to the Annual General Meeting of shareholders that Ernst & Young Oy, an auditing entity authorized by the Central Chamber of Commerce, be elected auditor of the company. 8. Payment of dividend The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.02 per share be paid for the financial year 1 January 2007-31 December 2007. Dividend is paid to a shareholder that has been entered into the shareholders' register maintained by the Finnish Central Securities Depository Ltd on the record date for the payment of dividend. The Board of Directors proposes that the record date for the payment of dividend is 19 March 2008 and that the payment date of the dividend is from 28 March 2008. ANNUAL ACCOUNTS AND PROPOSALS OF THE BOARD OF DIRECTORS The Annual Accounts and the proposals of the Board of Directors are available for the shareholders at the latest as of 7 March 2008 on the company's Internet pages at the address www.elektrobit.com/static/en/investors.html. A shareholder shall be delivered a copy of the above-mentioned documents upon request. PARTICIPATION IN THE ANNUAL GENERAL MEETING A shareholder who - by 4 March 2008 has been registered as a shareholder in the shareholders' register of the Company maintained by Finnish Central Securities Depository Ltd; and - has registered for the Annual General Meeting in the manner described below at the latest on Friday, 7 March 2008 at 4.00 p.m. (EET) has the right to participate at the Annual General Meeting of shareholders. REGISTRATION INTO THE SHAREHOLDERS' REGISTER A shareholder whose shares have been registered into his personal book-entry account with the Finnish Central Securities Depository Ltd is automatically entered into the shareholders' register of the company. Holder of nominee-registered shares can be temporarily entered into the shareholders' register of the company for the purpose of participating at the Annual General Meeting. Holders of nominee-registered shares should therefore contact their custodian well in advance of the Annual General Meeting. The temporary registration must be in force on 4 March 2008. REGISTRATION FOR THE GENERAL ANNUAL MEETING A shareholder must register for the Annual General Meeting at the latest on Friday, 7 March 2008 by 4.00 p.m. (EET) as follows: - by phone +358 40 344 3322 or +358 40 344 5425; - by fax +358 8 570 1304; - by e-mail yhtiokokous@elektrobit.com; or - by mail to the address Elektrobit Corporation, Yhtiökokous, PL 45, 90461 Oulunsalo. AUTHORIZATION If the Annual General Meeting is attended by proxy, the Power of Attorney is requested to be delivered at the latest on Tuesday, 11 March 2008 at 4.15 p.m. (EET) to the above postal address. ANNUAL REPORT The Annual Report is available at the latest as of 7 March 2008 on the company's Internet pages at the address http://www.elektrobit.com/static/en/investors.html. In Oulunsalo, February 6, 2008 Elektrobit Corporation Board of Directors ADDITIONAL INFORMATION: Päivi Vasankari Chief Legal Officer Elektrobit Corporation Tel. +358 40 344 2794 Panu Miettinen Chief Financial Officer Elektrobit Corporation Tel. +358 40 344 5338 DISTRIBUTION: OMX Nordic Exchange Helsinki Principal media EB, Elektrobit Corporation EB creates advanced technology and turns it into enriching end-user experiences. EB is specialised in demanding embedded software and hardware solutions for automotive and wireless industries. The net sales for the year 2007 totalled EUR 144.3 million. Elektrobit Corporation is listed on OMX Helsinki Exchange. www.elektrobit.com