Panostaja Oyj

Board/Management Information • May 11, 2012

Disclosure 299932

Panostaja Oyj - Changes board/management/auditors

CHANGES TO PANOSTAJA OYJ’S BOARD OF DIRECTORS

Panostaja Oyj Stock Exchange Bulletin, May 11, 2012 9:00 a.m. CHANGES TO PANOSTAJA OYJ'S BOARD OF DIRECTORS Hannu Tarkkonen, Managing Director of Etera Mutual Pension Insurance Company, has tendered his resignation from the Board of Directors of Panostaja as of May 10, 2012. According to the Articles of Association of Panostaja Oyj, the company's Board of Directors must comprise at least three (3) and no more than six (6) ordinary members, so the Board will continue with five (5) members. The Board of Directors of Panostaja Oyj thanks Hannu Tarkkonen for his significant contribution to the company as a Board member from 2006 to 2012. Panostaja Oyj Juha Sarsama CEO Further information: Juha Sarsama CEO Panostaja Oyj +358 (0)50 430 6482 juha.sarsama@panostaja.fi Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories. The Panostaja Group employs about 1,200 people. Panostaja's shares (PNA1V) are quoted on the NASDAQ OMX Helsinki Stock Exchange. In the 2011 financial year, the Group's turnover was €163.2 million. www.panostaja.fi