Managing Director appointed to Exel Sports Oy

EXEL OYJ          STOCK EXCHANGE RELEASE     14.3.2005 9.00    1 (2)

MANAGING DIRECTOR APPOINTED TO EXEL SPORTS OY

Exel has decided to incorporate the marketing, sales, logistics and
product development operations for its Sport division’s consumer
products (Nordic Fitness SportsTM, floorball and winter sports) into a
separate company, Exel Sports Oy. The new company, a wholly-owned
subsidiary of Exel Oyj, will begin operating on 1 April 2005 and a
Managing Director has been appointed to the new company. It will have
the goal of boosting Exel’s resources in the business area, further
developing the growing Nordic Walking business and continuing the
business’ vigorous international expansion.

Mika Sulin, 46, has been appointed Managing Director of Exel Sports
Oy. A member of Exel Oyj’s Board of Directors since 1997, Sulin has
extensive international experience of the sporting goods business,
based on his time at Salomon and as Managing Director of Nike Central
and Eastern Europe and Nike Nordic Countries. Most recently, he was
Managing Director of JHC Arena Holding Oy and Managing Partner as well
as Managing Director of Hartwall-Areena. He will begin his new duties
on 1 June 2005.

Aki Karihtala, Vice President, Sport division, will continue his
duties in Exel’s sporting goods business. These duties involve
strategic development of sports concepts, such as Nordic Fitness
SportsTM, floorball and winter sports. Mr. Karihtala will provide
further support to the company’s businesses by assisting the newly-
founded Exel Sports Oy in marketing and collections’ development
projects.

“These new arrangements will streamline our operations and give me
more time to focus on comprehensive further development of Exel’s
Sport business”, explains Mr. Karihtala. “I have known Mika Sulin for
several years and am confident that our combined professional skills
and experience in the international sporting goods business will prove
to be considerable assets to Exel, contributing to the further
enhancement of its Sport business.”

“Exel has successfully developed a strong sport and fitness product
portfolio, going beyond product manufacture to offer entire concepts.
It seeks to evolve into a strong international player and a
competitive marketing and sales organisation. My long familiarity with
the company’s operations, products and staff motivated me to accept
this extremely challenging and highly interesting task. I can also
offer my extensive international experience and broad network of
industry contacts to Exel, in support of its long-term goals and
strategies”, says Mr. Sulin.


Mäntyharju, 14 March 2005


Exel Oyj

                                                      2 (2)

Ari Jokelainen
President & CEO

Further information:
Mr. Ari Jokelainen, President & CEO, Exel Oyj, tel. 050 590 6750
Mika Sulin, Managing Director, Exel Sports Oy, tel. 040 527 8101



Exel Oyj is a Finnish company specialised in composite technology. The
Group’s operations consist of sporting goods and industrial
applications. Exel’s best-known products include cross-country and
alpine poles, Nordic Walking poles, surfboard masts, floorball clubs
and industrial profiles in general. The Group’s six factories are
located in Finland, Germany, Belgium and Spain. Over 80% of production
is exported. In 2004 the Group’s net sales totalled EUR 83.9 million.
Exel personnel numbers 450. Exel’s share is listed on Helsinki
Exchanges Main List.