Tieto Corporation STOCK EXCHANGE RELEASE 24 March 2011, 8.45 p.m. EET Tieto Corporation's Annual General Meeting of Shareholders approved the financial statements for 2010, decided to distribute a dividend of EUR 0.70 per share and discharge the company's officers from liability for the financial year 2010. The dividend settlement date is 29 March 2011 and the dividend will be paid as of 13 April 2011. In addition, the Annual General Meeting made the following decisions: Board composition and remuneration The meeting decided that the Board of Directors shall consist of eight members and re-elected the Board's current members Kimmo Alkio, Christer Gardell, Kurt Jofs, Eva Lindqvist, Risto Perttunen, Markku Pohjola, Olli Riikkala and Teuvo Salminen. In addition to the above, the company's personnel shall appoint two members, each with a personal deputy, to the Board of Directors. The term of office for the personnel representatives is two years and Anders Eriksson (deputy Bo Persson) and Jari Länsivuori (deputy Esa Koskinen) continue on the Board until the Annual General Meeting in 2012. At its constitutive meeting after the AGM, the Board of Directors elected Markku Pohjola as its Chairman and Olli Riikkala as its Deputy Chairman. The Board also appointed a Remuneration Committee comprising Markku Pohjola (Chairman), Kimmo Alkio, Christer Gardell and Olli Riikkala, and an Audit and Risk Committee comprising Teuvo Salminen (Chairman), Kurt Jofs, Eva Lindqvist and Risto Perttunen. All Board members are independent of both the company and the company's significant shareholders. The meeting approved that the remuneration of the Board of Directors will remain unchanged, but instead of monthly fees is notified as annual fees as follows: EUR 30 000 to the ordinary members of the Board of Directors, EUR 45 600 to the Deputy Chairman and EUR 68 400 to the Chairman. The same fee as to the Board Deputy Chairman will be paid to the Chairman of a Board Committee unless the same individual is also the Chairman or Deputy Chairman of the Board. In addition, a remuneration of EUR 800 is paid for each Board meeting and for each permanent or temporary committee meeting. It is the company's practice not to pay fees to Board members who are also employees of the Tieto Group. The meeting approved that 40% of the fixed annual remuneration be paid in Tieto Corporation's shares purchased from the market. The shares will be purchased within two weeks from the release of the company's interim report 1 January-31 March 2011. The Annual General Meeting resolved to acquire the shares directly on behalf of the members of the Board which is an approved manner to acquire the company's shares in accordance with the applicable insider rules. Auditor The meeting re-elected the firm of authorized public accountants PricewaterhouseCoopers Oy as the company's auditor for the financial year 2011. Authorizing the Board of Directors to decide on the repurchase of the company's own shares The Board of Directors was authorized to decide on the repurchase of the company's own shares as follows: The number of own shares to be repurchased shall not exceed 7 200 000, which amount corresponds to approximately 10% of all of the shares in the company. Only the unrestricted equity of the company can be used to repurchase own shares on the basis of the authorization. The company's own shares can be repurchased at a price formed in public trading on the date of the repurchase or at a price that has otherwise been formed on the market. The Board of Directors decides how the share repurchase will be carried out. Own shares can be repurchased, inter alia, by using derivatives. The company's own shares can be repurchased otherwise than in proportion to the shareholdings of the shareholders (directed repurchase of shares). The authorization cancels previous unused authorizations by the General Meeting to decide on the repurchase of the company's own shares. The authorization is effective until the next Annual General Meeting, however, no later than until 24 September 2012. Donations for philanthropic purposes The meeting decided to authorize the Board of Directors to decide on donations to a maximum amount of EUR 150 000 to be made for philanthropic or corresponding purposes until the Annual General Meeting 2012 and to authorize the Board of Directors to determine its purpose and the donee or donees in detail. There were 532 shareholders represented at the meeting representing altogether 40 421 566 shares and votes. All decisions were made without voting. For further information, please contact: Jouko Lonka, General Counsel, tel. +358 2072 78182, +358 400 424 451, jouko.lonka@tieto.com DISTRIBUTION NASDAQ OMX Helsinki NASDAQ OMX Stockholm Principal Media Tieto is the leading IT service company in Northern Europe providing IT and product engineering services. Our highly specialized IT solutions and services complemented by a strong technology platform create tangible business benefits for our local and global customers. As a trusted transformation partner, we are close to our customers and understand their unique needs. With more than 17 000 experts, we aim to become a leading service integrator creating the best service experience in IT. www.tieto.com [HUG#1499291]