LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE 16 December 2008 at 9.00 a.m. LÄNNEN TEHTAAT'S CONSOLIDATED OPERATING PROFIT OF THE CONTINUING OPERATIONS FOR THE WHOLE YEAR WITHOUT NON-RECURRING ITEMS LOWER THAN EXPECTED - THE OVERALL PROFIT FOR THE FINANCIAL YEAR SUBSTANTIALLY BETTER THAN IN THE COMPARISON PERIOD In its previous releases Lännen Tehtaat estimated that the operating profit of the continuing operations excluding non-recurring items would be better than in the comparison year thanks to a good performance by Grain Trading and improved profitability in the Fish Products Business. Because of a poorer than expected performance in the final months of the year, Lännen Tehtaat expects the operating profit of the continuing operations for the whole year without non-recurring items to be, at best, at the comparison year's level. Expectations have fallen in the Fish Products and the Vegetable Oils businesses. Prospects for the Frozen Foods business, Grain Trading and Other Operations remain unchanged. Sales in the Fish Products business in Finland in the final months of the year have been below their targets with the focus on less-processed products. Profitability in the Fish Products business in Sweden and Norway in the final months of the year has been affected negatively by a rise in the price of the main raw material, which was caused by a marked deterioration in the exchange rates of the Swedish and Norwegian currencies. The financial performance of the Fish Products business excluding non-recurring items is expected to produce a loss and be worse than in the comparison year, contrary to what was said earlier. The contraction in a pre-agreed major export transaction because of the customer's financial difficulties and plummeting oil prices have contributed to the poorer than expected financial performance by the Vegetable Oils business at the end of the year. Contrary to what was said before, its financial performance for the whole year excluding non-recurring items is expected to turn into a loss. The overall profit for the financial year will be much better than in the comparison period. The positive non-recurring items in the associated company Sucros Oy, the profit on the sale of the jams business and the profit on the sale of the minority shareholding in Suomen Rehu will have a positive effect on the financial performance. A bulletin about Lännen Tehtaat's financial statements will be released on 19 February 2009. LÄNNEN TEHTAAT PLC Matti Karppinen CEO Further information is available from CEO Matti Karppinen, tel + 358 10 402 4001 Distribution: NASDAQ OMX Helsinki Ltd Main media www.lannen.fi