Lassila & Tikanoja Oyj

Business and Financial Review • Dec 12, 2008

Disclosure 265191

Lassila & Tikanoja - Company Announcement

LASSILA & TIKANOJA'S FULL-YEAR OPERATING PROFIT EXCLUDING NON-RECURRING AND IMPUTED ITEMS TO BE LOWER THAN ANTICIPATED

LASSILA & TIKANOJA PLC COMPANY ANNOUNCEMENT 12 DECEMBER 2008 9.00 am LASSILA & TIKANOJA'S FULL-YEAR OPERATING PROFIT EXCLUDING NON-RECURRING AND IMPUTED ITEMS TO BE LOWER THAN ANTICIPATED Market prices for recycled raw materials have declined and the decrease in the demand has been steeper than anticipated. The volumes of recyclable raw materials have also decreased to some extent. Production reductions in the forest industry have been larger than expected. For the reasons mentioned above, Lassila & Tikanoja's operating profit excluding non-recurring and imputed items for the final quarter is estimated to be clearly lower than in the previous year. The full-year operating profit excluding non-recurring and imputed items is estimated to be lower than anticipated. Previously the company estimated that the full-year operating profit will be somewhat lower than in the previous year. However, due to the non-recurring items the full-year earnings will exceed those for the previous year. The company will adapt its operations to the change in the market situation. Lassila & Tikanoja plc's financial statements for the period 1 January - 31 December 2008 will be released on 10 February 2009 at 8.00 am. LASSILA & TIKANOJA PLC Jari Sarjo President and CEO For additional information please contact Jari Sarjo, President and CEO, tel. +358 10 636 2810, and IR Manager Keijo Keränen, tel. +358 50 385 6957 Lassila & Tikanoja specialises in environmental management and property and plant support services and is a leading supplier of wood-based biofuels, recovered fuels and recycled raw materials. With operations in Finland, Sweden, Latvia, Russia and Norway, L&T employs 9,500 persons. Net sales in 2007 amounted to EUR 555 million. L&T is listed on NASDAQ OMX Helsinki. Distribution: NASDAQ OMX Helsinki Major media www.lassila-tikanoja.com