Aspo Oyj (HEL:ASU1V) THE ASPO EMPLOYEE NEGOTIATIONS CONCLUDED

Aspo Oyj (HEL:ASU1V) ASPO Plc STOCK EXCHANGE BULLETIN November 26, 2008, at 10:45 a.m.

Kauko-Telko Ltd, which belongs to the Aspo Group, has concluded the employee negotiations in accordance with the Act on Co-operation that were initiated on October 9, 2008. The negotiations pertained to Kauko-Telko's administrative personnel groups and altogether about 50 people. The potential reduction in personnel due to the reorganization of operations was estimated at 10 to 15 persons. As a result of the negotiations, 16 man-years will be eliminated from the company. The reorganization will not generate any non-recurring expenses.

Aspo estimates that the streamlining of the administrative structure and the elimination of overlaps will achieve EUR 2 million in savings annually. In addition, the combination of premises will achieve about EUR 1.5 million in savings annually. Savings in expenses will be made in full in 2010.

After the Kauko-Telko acquisition in spring 2008, Aspo Plc reorganized its operations into the business operations of ESL Shipping, Telko, the Leipurin Group and Kaukomarkkinat. The restructuring program will be finished when Kauko-Telko Ltd is divided as part of the business operations on January 1, 2009. Kauko-Telko's centralized administration will be dissolved into operating activities.

Gustav Nyberg, CEO of Aspo Plc: "The reorganization of Aspo operations and its financial results are being realized as planned. Despite the global economic uncertainty, the stable development of Aspo Group has continued and Aspo will stick to the previous profit forecasts concerning the rest of 2008. Thus, the Group's net sales will continue to grow and the full-year earnings per share are expected to be close to last year's record high."

ASPO Plc

Gustav Nyberg CEO

For more information, please contact Gustav Nyberg, +358 9 7595 256 or +358 40 503 6420 gustav.nyberg@aspo.fi

Aspo is a conglomerate focused on sectors that require extensive specialist knowledge. Aspo owns and develops the leading businesses in its sector, which include ESL Shipping, Leipurin and Telko. In addition, Aspo also includes Kaukomarkkinat, which focuses on selected fields of commerce. Aspo serves demanding business-to-business clients. In 2007, the company's net sales (pro forma) amounted to EUR 495.3 million.

Distribution: NASDAQ OMX Helsinki Key media www.aspo.fi

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Aspo Oyj

http://www.aspo.fi/

ISIN: FI0009008072

Stock Identifier: XHEL.ASU