EVOX RIFA GROUP OYJ STOCK EXCHANGE BULLETIN on November 1, 2001 at 10.00 a.m.

EVOX RIFA GROUP INTERIM REPORT JANUARY 1, 2001 — September 30, 2001

• Net sales for the first three quarters of 2001 were EUR 55,4 million (EUR 61,4 million in 2000)
• Operating loss was EUR 1,0 million (operating profit EUR 2,7 million in 2000)
• Loss before extraordinary items was EUR 2,4 million (profit EUR 1,5 million in 2000)
• Earnings per share was EUR -0,028(EUR 0,011)
• Order backlog on September 30, 2001 was EUR 13,3 million (EUR 35,5 million)

FINANCIAL DEVELOPMENT

The financial information presented in this bulletin are given as pro forma figures for the periods of comparison from the previous year due to the fact that the company was established as a result of Finvest Oyj’s demerger on October 30, 2000 and, therefore, actual figures for comparison do not exist.

Net sales

The Group’s net sales were EUR 55,4 million at the end of the third quarter of the current year — which is nearly EUR 6,0 million (9,7 %)less than at the end of the corresponding period of the previous year.

The clear downturn of the revenue reflects the negative trend in the market, which has been continuous since the beginning of the year.

Within Evox Rifa Group’s product families, the film capacitors remained the biggest product line of the Group comprising nearly 40% of the total net sales.

Industrial electronics continued to be the biggest customer segment of Evox Rifa Group with about 24% share of the total net sales.

Profit

Evox Rifa Group’s profitability decreased compared to the previous year due to unfavourable market conditions and price pressures. Operating loss was EUR 1,0 million (operating profit EUR 2,7 million) and loss before extraordinary items was EUR 2,4 million (profit EUR 1,5 million).

The Group’s earnings per share was EUR -0,028 (EUR 0,011) and shareholders’ equity per share was EUR 0,323 (EUR 0,361).

Order backlog

The order backlog of Evox Rifa Group followed the general market trend and continued to decline strongly. The order backlog was EUR 13,3 million at the end of the third quarter of 2001 (EUR 35,5 million at the end of the third quarter of 2000). However, order cancellations, which reduced the size of order backlog during the second quarter, were not received during the third quarter.

FINANCIAL STATUS AND CAPITAL EXPENDITURE

The unsatisfactory market situation during the reporting period had a negative impact on the financial situation of Evox Rifa Group. However, the cost cutting programs had an effect on operating cash flow, which was slightly positive. The financial situation will be kept under control by further reductions of working capital and re-evaluating capital investments. Group’s liquid funds were EUR 5,2 million and equity ratio was 49,8%.

Gross capital expenditure into fixed assets amounted to EUR 4,0 million. The investments were used to renew production machinery and to improve efficiency in production.

SHARES AND SHARECAPITAL

The nominal value of the shares of Evox Rifa Group Oyj is EUR 0,05, the number of shares was 86 685 509 on September 30, 2001 and the share capital was EUR 4 334 275,45.

PERSONNEL

The average number of personnel of Evox Rifa Group during the three first quarters of the year 2001 was 1358 (1405 during the corresponding period in 2000).

Evox Rifa has been conducting strong actions to adjust costs due to the unsatisfactory market situation. At Suomussalmi factory temporary lay-offs have affected all personnel groups since April. At Evox Rifa Swedish manufacturing sites in Kalmar and Gränna, personnel negotiations were started in October concerning permanent lay-offs of nearly 150 people.

OUTLOOK FOR THE YEAR 2001

Electronics industry has experienced an unusual weakening of demand during 2001. As a consequence this has led to an extensive decline in production and sales volumes for Evox Rifa. This fact has already caused financial losses and the result for the whole year 2001 will be negative.

Even our most established customers are still reluctant to give us their estimates of their needs in the near future. The difficulties in forecasting have caused considerable challenges to our production planning and operational arrangements.

The temporary and permanent lay-offs mentioned above are part of the measures taken by Evox Rifa to adjust its production capacity to the level of current and estimated demand. The Group continues to also improve the efficiency of its other functions and to cut costs in all its operations. However, the full effects of the savings will be seen only in 2002. For further cost savings, Evox Rifa will increase its production in Asia.

Evox Rifa will further free capital by reducing the level of inventories and receivables. Investments into fixed assets will be re-evaluated and only the most productive and important investments will be made.

Our intention, however, is to carry out the strategic investment in China according to schedule in order to be present in the growing Chinese and Asian markets and to be in a better competitive shape when the demand recovers.

INCOME STATEMENT OF EVOX RIFA GROUP

Unaudited

BALANCE SHEET OF THE GROUP

Unaudited

EVOX RIFA GROUP KEY FIGURES

Unaudited

DERIVATIVE CONTRACTS

The company uses forward contracts and currency options to hedge foreign currency denominated balance sheet items against exchange rate fluctuations. The maturity of forward contracts and currency options vary from 1 to 3 months.

The market values of off-balance sheet derivative contracts made to hedge the exchange rates fluctuations (1000 EUR):

In Espoo on November 1, 2001

EVOX RIFA GROUP OYJ

Harri Launonen
President

For further information please contact:
Evox Rifa Group Oyj
Harri Launonen
President
tel. +358 9 5406 5001,
harri.launonen@evoxrifa.com

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