THE BOARD OF DIRECTORS OF ASPO HAS DECIDED ON A RIGHTS OFFERING AND ITS TERMS AND CONDITIONS

Aspo Plc    Stock Exchange Release April 5, 2011 at 14:45 pm.

Not for release, publication or distribution in or into the United States,
Australia, Japan, Canada, Hong Kong or Singapore.

The Board of Directors of Aspo has decided on a rights offering and its terms
and conditions.

Terms and conditions in brief:
- A rights offering of approximately EUR 20 million
- Subscription price of EUR 5.20 per share
- One (1) new share for every seven (7) shares held on April 8, 2011 (1:7)
- Trading in shares ex-subscription rights commences on April 6, 2011, and the
record date of the offering is April 8, 2011
- Trading in subscription rights commences on April 13, 2011, and ends on April
20, 2011
- Subscription period commences on April 13, 2011, and ends on April 29, 2011

Based on the authorisation given by the Annual General Meeting on April
5, 2011, the Board of Directors of Aspo Plc ("Aspo" or "Company") has decided to
offer up to 3,838,143 new shares ("Offer Shares") for subscription with pre-
emptive rights to existing shareholders ("Rights Offering"). Aspo will raise
gross proceeds of approximately EUR 20 million through the Rights Offering and
intends to use the raised proceeds to support the Company's growth strategy
through organic growth and business acquisitions, to strengthen its balance
sheet and to develop its business.

The shareholders who are registered in the Company's shareholders' register on
the record date of the Rights Offering on April 8, 2011, will automatically
receive one freely transferable subscription right in book-entry form for each
existing share held in the Company. Seven (7) subscription rights entitle its
holder to subscribe for one (1) Offer Share. The subscription price is EUR 5.20
per Offer Share corresponding an implied discount of approximately 35.0 per cent
to the theoretical ex-rights price (TERP), calculated from the Aspo's closing
price on NASDAQ OMX Helsinki on April 4, 2011, less the dividend of EUR 0.42 to
be distributed for the year 2010.

Subscription commitments

Out of the major shareholders Henrik Nyberg, Aatos Vehmas, Tapio Vehmas,
Ilmarinen Mutual Pension Insurance Company, Liisa Vehmas, Berling Capital Oy,
Henrik Estlander, Gustav Nyberg, Varma Mutual Pension Insurance Company, Aspo
Management Oy and Hollming Oy as well as all members of the Board of Directors
have given irrevocable commitments to subscribe for the Offer Shares. The
irrevocable commitments represent approximately 36.8 per cent of the Offer
Shares.

Publishing of the prospectus

The Company has submitted for the approval of the Finnish Financial Supervisory
Authority a prospectus relating to the Rights Offering in Finnish. Assuming that
the prospectus is approved on or about April 8, 2011, the prospectus will be
available in printed form and in the Finnish language beginning on or about
April 11, 2011, at Aspo's head office at Lintulahdenkuja 10, FI-00500 Helsinki,
Finland, and at the office of NASDAQ OMX Helsinki Ltd at Fabianinkatu 14, FI-
00100 Helsinki, Finland, and in electronic form on Aspo's website at
www.aspo.fi. The approval of the prospectus will be announced separately.

An announcement of the preliminary results of the Rights Offering is expected to
be published on or about May 2, 2011 and the announcement relating to the final
outcome of the Rights Offering is expected to be published on or about May
5, 2011.

Holders of the convertible capital loan

The Company has issued a convertible capital loan in 2009. To ensure the equal
treatment of the holders of the convertible capital loan and Aspo's shareholders
and in accordance with the terms and conditions of the convertible capital loan
the Board of Directors of Aspo has on April 5, 2011, decided to amend the terms
and conditions of the convertible capital loan in respect of the number of
shares received as a result of conversion so that each loan note of EUR 50,000
entitles its holder to convert the note into 8,074 new shares in the Company.
The conversion ratio is therefore amended to EUR 6.19. As a result of the Rights
Offering the maximum number of new shares in the Company into which the
convertible capital loan can be converted in total increases by 79,488 shares
from what has been previously announced. The foregoing amendments to the terms
and conditions of the convertible capital loan will come into force on or about
May 6, 2011, provided that the Rights Offering is completed and the Offer Shares
issued pursuant to the Rights Offering are registered in the Trade Register.

The full terms and conditions of the Rights Offering are set out in the appendix
of this stock exchange release. Pohjola Corporate Finance Ltd is acting as the
Lead Manager for the Rights Offering.

Helsinki, April 5, 2011

ASPO PLC

Aki Ojanen
CEO

Further information:
Aki Ojanen, CEO, tel. +358 9 5211, +358 400 106 592
Harri Seppälä, Group Treasurer, tel. +358 9 5211, +358 400 617 201
harri.seppala(a)aspo.com

Distribution:
NASDAQ OMX Helsinki
Key media
www.aspo.com

Aspo is a conglomerate that owns and develops businesses in Northern Europe and
growth markets focusing on demanding B-to-B customers. The aim of our strong
corporate brands - ESL Shipping, Leipurin, Telko and Kaukomarkkinat - is to be
the market leaders in their sectors. They are responsible for their own
operations, customer relationships and the development of these. Together they
generate Aspo's goodwill. Aspo's Group structure and business operations are
developed persistently without any predefined schedules.



IMPORTANT NOTICE:

This press release is not an offer for subscription for shares in the Company. A
prospectus relating to the Rights Offering referred to in this press release and
the subsequent listing of the Offer Shares on NASDAQ OMX Helsinki has been filed
with the Finnish Financial Supervisory Authority.

The distribution of this press release in certain jurisdictions may be
restricted by law and persons into whose possession it or any part of it comes
should inform themselves about and observe any such restrictions. The
information in this press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the securities
referred to herein in any jurisdiction in which such offer, solicitation or sale
would require preparation of further prospectuses or other offer documentation,
or be unlawful prior to registration, exemption from registration or
qualification under the securities laws of any such jurisdiction.

This press release has not been approved by any regulatory authority. This press
release is not a prospectus and investors should not subscribe for or purchase
any securities referred to in this press release except on the basis of
information provided in the prospectus to be published by the Company in due
course.

Pohjola Corporate Finance Ltd is acting for the Company and no one else in
connection with the Rights Offering and will not be responsible to anyone other
than the Company for providing the protections afforded to its clients or for
providing advice in relation to the Rights Offering and/or any other matter
referred to in this announcement.

Pohjola Corporate Finance Ltd accepts no responsibility whatsoever and makes no
representation or warranty, express or implied, for the contents of this
announcement, including its accuracy, completeness or verification or for any
other statement made or purported to be made by it, or on its behalf, in
connection with the Company and the Offer Shares, or the Rights Offering, and
nothing in this announcement is, or shall be relied upon as, a promise or
representation in this respect, whether as to the past or future.

Pohjola Corporate Finance Ltd disclaims to the fullest extent permitted by law
all and any responsibility and liability whether arising in tort, contract or
otherwise which they might otherwise have in respect of this announcement or any
such statement.

United States

This press release does not constitute or form part of an offer or solicitation
of an offer to purchase or subscribe for securities in the United States. The
securities referred to herein have not been and will not be registered under the
U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be
offered or sold in the United States absent registration under the Securities
Act or an exemption therefrom. No public offering of the securities referred to
herein is being made in the United States. Copies of this announcement are not
being, and may not be, distributed or sent, in whole or in part, directly or
indirectly, into the United States, Australia, Canada, Hong Kong, Japan or
Singapore.

European Economic Area

The Company has not authorised any offer to the public of shares or rights in
any Member State of the European Economic Area other than Finland. With respect
to each Member State of the European Economic Area other than Finland (each, a
"Relevant Member State"), no action has been undertaken to date to make an offer
to the public of shares or rights requiring a publication of a prospectus in any
Relevant Member State. As a result, the shares or rights may only be offered in
Relevant Member States in circumstances, not requiring the company to publish a
prospectus as provided under the Directive 2003/71/EC.

United Kingdom

This communication is directed only at (i) persons who are outside the United
Kingdom or (ii) persons who have professional experience in matters relating to
investments falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth
entities, and other persons to whom it may lawfully be communicated, falling
within Article 49(2) of the Order (all such persons together being referred to
as "relevant persons"). Any investment activity to which this communication
relates will only be available to and will only be engaged with, relevant
persons. Any person who is not a relevant person should not act or rely on this
document or any of its contents.


ATTACHMENT:
Terms and conditions of the offering


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