ETTEPLAN TO ACQUIRE A MAJORITY STAKE IN

ETTEPLAN TO ACQUIRE A MAJORITY STAKE IN
SWEDISH J.A. PRODUKTUTVECKLING AB

Etteplan Oyj has a 35 % interest in J.A. Produktutveckling AB.
Etteplan Oyj has today signed an agreement according to which
the company acquires a majority stake of 75 % in
J.A. Produktutveckling AB by 1.8.2003.

J.A. Produktutveckling AB is engaged in providing product
development services mainly for automobile, electronics and
machine manufacturing industries. The company has annual sales
of approximately 9 million euros and it employes 114 persons.
The company is currently serving it’s customers on the Swedish
market with 7 offices in Alingsås, Göteborg, Jönköping, Malmö,
Norrköping, Stockholm and Trollhättan.

The transaction will be made by using the stocks Etteplan
possesses/will possess as payment. In case Etteplan does not
possess the required amount of shares by 1.8.2003 the company
will prepare a share issue on the missing amount. The contract
price for the 40 % share implemented now would be 512 KEUR
measured by the signing date stock quotation for Etteplan’s
stocks.

The increase in ownership share strengthens the realization
of synergies between Etteplan and J.A. Produktutveckling.
Ulf Aiff, the Managing Director of J.A. Produktutveckling AB
is at the same time appointed a member of Etteplan’s Group
Management Board and a Vice President of Strategic
Business Unit Electronics.

Etteplan Oyj is one of Finland’s leading engineering design
companies. Etteplan’s customer base consists primarily of
large internationally operating companies. Customers are
equipment manufacturers as well as end-users in the wood-
processing industry, the process industry and the lifting
and hoisting equipment as well as electronics industries.
The Group’s areas of expertise span machine technology,
electrical and automation design as well as software
development and electronics design. The company had
turnover in 2002 of EUR 37 million and a payroll, after
the new agreement, of more than 900 employees in Finland,
Sweden, Germany and Italy. The company is listed on the
NM List of Helsinki Exchanges.

Hollola, 21 May 2003


Etteplan Oyj

Board of Directors


For additional information, contact: CEO Heikki Hornborg,
tel. +358 3 872 9011, GSM +358 400 873 063 or Executive Vice
President Jukka Rausti, tel. +358 (9) 7598 7711,
GSM +358 400 612 463

DISTRIBUTION:     Helsinki Exchanges
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                  www.etteplan.com