CapMan Oyj — M&A Activity 2010

Nov 17, 2010

CapMan sells 30% of Access Capital Partners to Pohjola, will impact CapMan's 2010 result by approx. EUR 23 million

CapMan sells 30% of Access Capital Partners to Pohjola, will impact CapMan's 2010 result by approx. EUR 23 million

CapMan Plc Stock Exchange Release 17 November 2010 9.45 a.m.

CapMan sells 30% of Access Capital Partners to Pohjola, will impact CapMan's
2010 result by approx. EUR 23 million

CapMan Plc (CapMan) and Pohjola Bank Plc (Pohjola) have signed an agreement
under which CapMan will sell 30% of Access Capital Partners Group SA (Access) to
Pohjola. The transaction will have an impact of approx. EUR 23 million on
CapMan's 2010 result. The closing of the transaction will be subject to the
consent of the regulatory authorities in Guernsey (GSFC) and France (AMF), and
is expected by the end of 2010.

Access is a leading independent European manager and advisor of private equity
funds of funds and mandates, with assets under management totalling approx. EUR
2.9 billion. CapMan was a co-founder of Access in 1999 together with Access'
managing partners.

The transaction is part of a larger one, in which Access will acquire Pohjola
Private Equity Funds Oy (PPEF) from Pohjola, while Pohjola will simultaneously
acquire 40% of Access from CapMan and Access' managing partners. Following these
transactions, the capital managed by the new Access Capital Group will increase
to approx. EUR 4.5 billion. CapMan will continue to be an Access shareholder
after the transaction, with a 5% stake. CapMan's entitlement to possible carried
interest income from the funds and private equity mandates managed by Access
will remain unchanged after the transaction for all capital raised by Access
prior to the closing."Both CapMan and Access have grown strongly since the establishment of Access,
CapMan into one of the leading private equity houses in the Nordic countries and
Russia, and Access into one of the leading managers and advisors of private
equity funds of funds and mandates in Europe," says CapMan's CEO Lennart
Simonsen. "Now is a good and natural time for us now to reduce our significant
ownership in Access and concentrate on our core business of managing private
equity funds making direct investments in companies and real estate."

"We are proud to have had the chance to contribute to Access' development
during the past 12 years," continues CapMan Senior Partner, Ari Tolppanen, who
has served on the Access Board since 1999. "The company's managing partners have
done an excellent job in growing the company and building a strong market
position for Access. And I believe that the transactions we are now announcing
will support Access' future development very effectively."

Further information:
Lennart Simonsen, CEO, tel. +358 (0)207 207 567

CAPMAN PLC

Mari Reponen
Communications Director
Investor Services

DISTRIBUTION
NASDAQ OMX Helsinki
Principal media
www.capman.com

CapMan
CapMan is one of the leading alternative asset managers in the Nordic countries
and Russia and manages private equity funds with approximately EUR 3.6 billion
in total capital. CapMan has six investment areas (CapMan Buyout, CapMan
Technology, CapMan Life Science, CapMan Russia, CapMan Public Market and CapMan
Real Estate), and each of them has a dedicated team and funds. Altogether CapMan
employs approximately 150 people in Helsinki, Stockholm, Copenhagen, Oslo,
Moscow and Luxembourg. CapMan was established in 1989 and its B shares have been
listed on the Helsinki Stock Exchange since 2001. www.capman.com

Access Capital Partners
Access Capital Partners (www.access-capital-partners.com) is a leading,
independent European provider of private equity funds of funds with around EUR
2.9 billion under management. Since inception in 1999, Access' stable management
team has remained disciplined and focused on the proactive screening, selection
and management of European small to mid-market buy-out funds of funds and
mandates. Access' combined primary and secondary approach to the management of
funds of funds has been a key differentiator. The firm currently employs 32
people including 8 partners operating or advising from Paris, Brussels, Munich
and London. www.access-capital-partners.com.

Pohjola
Pohjola is a Finnish financial services group which provides its corporate and
institutional customers with a diverse range of banking, non-life insurance and
asset management services and private individuals with an extensive range of
non-life insurance and private banking services. Pohjola Bank plc (Pohjola) is
part of OP-Pohjola Group, the leading financial services group in Finland.

Pohjola Asset Management Ltd is part of Pohjola Group and it is responsible for
asset management services for OP-Pohjola Group's major institutional and private
clients. Its 168 asset management experts manage assets worth over EUR 35
billion. The company is the leading asset manager for Finnish private and
institutional investors. During the almost four years of operation, Pohjola
Private Equity Funds Ltd within Asset Management has become one of the most
significant private equity firms in the Nordic countries. It has assets of
around EUR 1.6 billion under management. www.pohjola.fi

[HUG#1463198]