Share subscriptions with year 2001 warrants

EXEL OYJ    STOCK EXCHANGE ANNOUNCEMENT   14.11.2005 at 9.45   1 (1)


After the previous increase in the share capital registered on 9
September 2005, a total of 158,100 shares in Exel Oyj have been
subscribed with the A and B warrants attached to the warrant programme
2001. 74,400 shares were subscribed with the A warrants and 83,700
shares with the B warrants. The subscription price of the shares
subscribed with A warrants is EUR 4.11 and EUR 3.86 for B warrants.
The subscription period for the A warrants began on 1 June 2002 and on
1 October 2003 for the B warrants.

The increase in the share capital, in total EUR 28,458 was registered
in the Finnish Trade Register on 14 November 2005. As a result of the
increase, the share capital of Exel Oyj is now EUR 2,069,802 and the
total number of shares is 11,498,900. Exel received a total of EUR
628,866 as shareholders’ equity.

The holders of the new shares are entitled to all shareholders’ rights
from the registration date. The new shares will be listed on Helsinki
Exchanges main list together with the old shares on 15 November 2005.

Mäntyharju, 14 November 2005


Ari Jokelainen
President & CEO

Further information:
Mr Ari Jokelainen, President, Exel Oyj, tel. +358 50 590 6750

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
Nordic Walking poles, Alpine poles, surfboard masts, floorball clubs
and industrial profiles. The Group’s seven factories are located in
Finland, Germany, Belgium, Austria 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. Further information: