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Neste Oil Oyj: Neste Oil's restructuring of its shipping business now essentially completed

Neste Oil Corporation

Press release
29 April 2014 at 2 p.m. (EET)

Neste Oil's restructuring of its shipping business now essentially completed

Neste Oil has completed the arrangements to sell its key vessels to companies
owned by Finland's National Emergency Supply Agency and Ilmarinen and
outsource its ship management functions to OSM Ship Management Finland Oy.
Neste Shipping's chartering operations will continue as part of the Neste Oil

The ownership of the five tankers and the three tugs in question transferred
to the new owners on 29 April. Neste Oil has chartered the ships back on
long-term contracts. A new company, Navidom Oy - jointly owned by Neste Oil,
the National Emergency Supply Agency, and Ilmarinen - has been set up to
manage and administer the vessel assets.

As part of the restructuring of the business, Neste Oil has outsourced the
ship management functions of all its ships to OSM Ship Management Finland Oy,
a Finnish subsidiary of OSM Group AS of Norway. A total of 302 sea- and
land-based Neste Shipping personnel transferred to the subsidiary as existing
employees on 29 April under the outsourcing transaction.

Neste Oil plans to sell the Tempera, Purha, Jurmo, and Stena Arctica at a
later date.

The restructuring of Neste Shipping's operations is based on Neste Oil's
desire to reinforce its focus on developing its core cleaner traffic
solutions-related business. The decision to restructure the shipping
business was announced in detail in aStock Exchange Releaseissued on 19
September 2013.

Neste Oil Corporation

Kaisa Lipponen
Director, Corporate Communications

Further information: Arvo Ruotsalainen, Managing Director, Neste Shipping,
tel. +358 (0)50 458 8205

Photos and video material can be downloaded to be used by the media

Neste Oil in brief

Neste Oil Corporation is a refining and marketing company concentrating on
low-emission, high-quality traffic fuels. The company produces a
comprehensive range of major petroleum products and is the world's leading
supplier of renewable diesel. Neste Oil had net sales of EUR 17.5 billion in
2013 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.

Neste Oil is included in the Dow Jones Sustainability World Index and the
Ethibel Pioneer Investment Register, and has featured in The Global 100 list
of the world's most sustainable corporations for many years. Forest Footprint
Disclosure (FFD) has ranked Neste Oil as one of the best performers in the
oil&gas sector. Further


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: Neste Oil Oyj via Globenewswire


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