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2014-04-30

Elektrobit Oyj: Elektrobit (EB) starts personnel negotiations to temporarily lay off 90 employees at the maximum, targeting cost savings of about EUR 0.8 milli

Stock exchange release

Free for publication on April 30, 2014 at 8.00 a.m. (CEST+1)
Elektrobit (EB) starts personnel negotiations to temporarily lay off 90
employees at the maximum, targeting cost savings of about EUR 0.8 million in
its Wireless Business Segment

Elektrobit (EB) has today started personnel negotiations to temporarily lay
off 90 persons at the maximum in Wireless Business Segment to adjust its cost
level due to the weakened order book for R&D services in the next few months.
With temporary layoffs EB targets to achieve EUR 0.8 million cost savings,
which are expected to materialize mainly during the third quarter of the
year.

In order to achieve the targeted cost savings, EB plans to temporarily lay off
90 employees at the maximum, for 90 days at the maximum, part-time or
full-time. The temporary layoffs are planned to occur mainly during the third
quarter of 2014. The negotiations concern employees working in Wireless
Business Segment in Finland. Currently, Wireless Business Segment has 496
employees.

The underlying reasons for the planned layoffs are decreased demand of R&D
services for mobile telecommunications network equipment and delays in
starting new projects, which have resulted in a decreased order book for R&D
services for the next few months.

The decreased order book for R&D services for the next few months and the
targeted cost savings by the planned temporary layoffs are taken into account
in the company's outlook for 2014, presented in the interim report
January-March 2014, published today. The interim report January-March 2014 is
available at the company's internet pages atwww.elektrobit.com.

Oulu, April 30, 2014

Elektrobit Corporation
CEO
Jukka Harju

Further information:

Hannu Huttunen
President, Wireless Business Segment
Tel. + 358 40 344 5307

Distribution:
NASDAQ OMX Helsinki
Principal media

Elektrobit Corporation (EB)
EB creates advanced technology and turns it into enriching end-user
experiences. EB is specialized in demanding embedded software and hardware
solutions for wireless and automotive industries. The net sales in 2013
totaled EUR 199.3 million and operating profit was EUR 8.1 million.
Elektrobit Corporation is listed on NASDAQ OMX Helsinki. www.elektrobit.com

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Elektrobit Oyj via Globenewswire

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