EVOX RIFA GROUP OYJ STOCK EXCHANGE RELEASE
Novemberr 26, 2002 at 10:00 a.m.

PERMANENT LAY-OFFS AT EVOX RIFA IN SWEDEN

As part of the measures taken to reduce costs, Evox Rifa starts personnel negotiatons in its manufacturing unit in Kalmar, Sweden about permanent lay-offs of 50 employees.
Demand for capacitors is continuously weak in several customer sectors of Evox Rifa. Clear improvement in the market situation cannot presently be foreseen. To improve its profitability and competitiveness Evox Rifa is transferring the unprofitable part of its European production to Asia where production costs are lower.

Evox Rifa AB in Kalmar currently employs 256 people. Evox Rifa Group in total has nearly 1300 employees.

EVOX RIFA GROUP OYJ

Harri Launonen
President

Additional information:
Evox Rifa Group Oyj, Harri Launonen, President, tel. +358 9 5406 5001.

Distribution:
Helsinki Exchanges
Main media