HKScan Corporation     STOCK EXCHANGE RELEASE   23 September 2008, at 9.30am


HKSCAN TO ISSUE EUR 20 MILLION HYBRID BOND

HKScan Corporation has resolved to issue a EUR 20 million hybrid bond aimed at
its majority shareholders and with a coupon rate of 8.5% p.a. The bond has no
maturity date but the company may call the bond after six years. 

The bond will be treated as equity in HKScan's IFRS financial statements. The
dates of interest payment are at the discretion of the company. The payment can
be made either in cash or as HKScan's Series A shares. The right of exchange
only applies in the first six years. The payment of interest as new shares will
dilute the shareholding of the company's current shareholders over six years by
no more than 1 190 160 A Shares, equal to 3.5% of all A Shares and 3.0% of all
shares. The rate of exchange is calculated according to a share price of EUR
8.57. 

The bond issue will support the aim of increasing the equity ratio announced by
the company and also reduce gearing ratio and financing expenses. 

No application for public listing of the bond will be made. Subscription of the
bond is to take place during the current week. Sampo Bank plc has acted as the
lead manager of the bond issue. 

A hybrid bond is an equity bond that is subordinated to the company's other
debt obligations but senior to its other equity instruments. The dates of
interest payment are at the issuer's discretion. Hybrid bond holding does not
confer the right to vote at shareholder meetings. 

The Board of Directors holds the authorisation granted by the Annual General
Meeting on 22 April 2008 to resolve on an issue of shares, share options as
well as other equity instruments as referred to in Chapter 10, section 1 of the
Limited Liability Companies Act. This authorisation concerns a maximum of 5 500
000 A Shares, corresponding to ca. 14.0% of all registered shares in the
company. To date, the Board of Directors has not exercised this authorisation. 


HKScan Corporation


Kai Seikku
CEO


Further information is available from CFO Matti Perkonoja. Please leave any
messages for him to call with Marjukka Hujanen on +358 (0)10 570 6218 



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