113 Key persons to receive share warrants in Orion's New Warrants Programme

The Board of Directors of Orion Corporation has decided upon the allocation of the share warrants in the new Warrants Programme 2001 for key persons in the Orion Group, issued by the Annual General Meeting of Shareholders on 29 March 2001. In the allocation of the warrants, the role of the research and product development personnel has been emphasised particularly. The total number of warrants in the programme is 1.800.000. They divide among four batches marked 2001A, 2001B, 2001C and 2001D to be released at one year's intervals correspondingly. Each warrant entitles to subscribe for one Orion Corporation B-share.

At this stage, 1,490,000 warrants of the total are being distributed to altogether 113 persons. The distributed amount divides among the four batches equally, each containing 372,500 warrants. The remaining 310,000 warrants will be held by the subsidiary Oriola Oy as a reserve for future purposes.

The warrants were allocated to the 113 persons as follows:

Nr. of persons Nr. of warrants A-D total
2 50,000
4 40,000
11 30,000
33 12,000
63 8,000

The share subscription period for warrants 2001A will begin on
1 Oct. 2003, for warrants 2001B on 1 Oct. 2004, for warrants 2001C on 1 Oct. 2005 and for warrant 2001D on 1 Oct. 2006, and it will end for all warrants on 31 Oct. 2007.

The share subscription price for warrants 2001A and 2001B is currently 28.91 euros, and during their subscription period it will be reduced by each cash dividend paid per share until the date of the subscription. For warrants 2001C the share subscription price will be the trade-volume-weighted average quotation of the Orion Corporation B-share in the Helsinki Exchanges between 1 and 31 March 2002, and for warrants 2001D correspondingly the quotation between
1 and 30 September 2002. Only extraordinary dividends per share shall be deducted from the share subscription price of warrants 2001C and 2001D, if any paid during the subscription period. The subscription price can not be lower than the nominal value of the share.

The terms and conditions of the warrants were published by Orion Corporation in a stock exchange release on 29 March 2001.



Contact person:
President and CEO Jukka Viinanen, phone +358 10 429 3000