START-UP OF THE PURCHASE PROGRAMME OF OWN SHARES

Panostaja Oyj       Stock Exchange Release 27th October 2008 at 16:00


START-UP OF THE PURCHASE PROGRAMME OF OWN SHARES

Panostaja Oyj's Annual Shareholders' Meeting has, with a decision made on 18th
December 2007, authorised the Board of the company to make the decision on the
start-up of the purchase programme of own shares. The Board has decided to
start the purchasing of own shares no earlier than on 30th October 2008. The
amount to be purchased is at the most 1.725.659 A shares and 2.794.408 B
shares. The purchase programme shall end no later than on 30th April 2009. 

The own shares shall be purchased for the company to be used as a remuneration
in possible company acquisitions or other structural arrangements or when
purchasing property which is a part of the business activities for the company,
in order to develop the capital structure of the company or to annul shares or
execute a key personnel incentive system. 


Additionally, the Board decided to depart from the course of action in Points
3.2.1 - 3.2.2 of the instruction according to Point 3.2.5 of the application
note related to the purchase of shares by the Stock Exchange of Helsinki
regarding the purchase of own shares, due to the small amount of the average
solvency of the stock exchange volume. 
The purchase of own shares shall be executed within six months from the
beginning of the purchasing and thus we aim to ensure the liquidity of the
share exchange during the purchase programme. The purchasing of own shares
under these conditions can lead to the fact that a half (50 %) of the average
daily exchange of a share is exceeded, but even then the deviation must not
cause exceptional market movement nor will it be possible to purchase more than
5 % of all the shares to be purchased during the same stock exchange day
(86.282 A shares and 139.720 B shares). 

This stock exchange bulletin is a translation of the original Finnish stock
exchange bulletin 23rd October 2008. 


Panostaja Oyj

Board of Directors


Additional information:
Juha Sarsama, Managing Director, tel. 040 774 2099