ETTEPLAN ACQUIRED A MAJORITY STAKE IN SW

ETTEPLAN ACQUIRED A MAJORITY STAKE IN SWEDISH TIMATEC AB

Etteplan Oyj and the owners of Swedish Timatec AB have signed an
agreement according to which Etteplan acquires a majority stake in
Timatec. The company operates in Karlstad, Sweden providing
mechanical and automation design services especially for the
machinery and device manufacturers in the wood processing industry.
The annual net sales of the company in 2003 was 8,8 million SEK
and it employs currently 15 persons.

The management of the company are the sellers from whom Etteplan 
buys 70 % share of ownership. The transaction is made in form of
share swap for which Etteplan will prepare a share issue. Mr. Anders
Magnusson, the Managing Director of Timatec, the management and the
entire personnel continue in their tasks in the company as former
employees. The agreement between Etteplan and the sellers includes
an option according to which Etteplan can at a later date buy the
rest of the share capital.

The agreement supports Etteplan’s internationalisation and follows
Etteplan's strategy according to which the company offers industrial
technology design services geographically close to its key customers.
Timatec’s know-how and strong experience in machine and equipment
design strengthens Etteplan’s position in the region. Correspondingly
the preconditions for development and growth of Timatec improve.

Etteplan Oyj is one of Finland's leading engineering design companies
and supplies high-quality design services for the production and
product development processes of industrial technology. The core
areas of expertise are mechanical engineering, electrical engineering
and automation design as well as software development and electronics
design and EMC-services. In 2003, turnover of Etteplan Group was 
51 MEUR. At the moment the company employs 942 persons in Finland,
Sweden, Germany and Italy. Etteplan Oyj is listed on the NM List of
Helsinki Exchanges.

Hollola, 10 June, 2004

Etteplan Oyj

Board of Directors

For additional information, contact: CEO Heikki Hornborg,
tel. +358 3 872 9011, GSM +358 400 873 063.

DISTRIBUTION:  Helsinki Exchanges
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