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SATO Oyj: Changes in the SATO management team

SATO Corporation, Changes board/management/auditors, 20th October 2016 at 1:40

Vice presidentTuula Entelä
has announced that she will retire at the end of the year. Entelä will
continue working as a senior advisor and a member of the management team
until 31 December 2016. She will also be responsible for operations in St.
Petersburg and for SATO HotelHomes and for tutoring the new members of the
management team. After this, responsibility for operations in St. Petersburg
will transfer to CEOSaku Sipola
, and vice presidentAntti Asteljoki
will be responsible for SATO HotelHomes.

The development activities covered by Tuula Entelä will transfer toMonica Aro
, the current director of marketing and communications at SATO, who has been
appointed vice president of development at SATO as of 28 November 2016. Aro
will continue as a member of SATO's management team.

Miia Eloranta
(43), M.Soc.Sc., has been appointed director of marketing and communications
and a member of the Group's management team as of 28 November 2016. Eloranta
joins SATO following three years as the director of communications and
marketing of ISS Palvelut Oy. Prior to that she had served as communications
director at the Bioenergy Association of Finland and as Communications and
Marketing Business Unit manager at Soprano Plc.

Starting from 1 December 2016,Markku Honkasalo
(52), LL.M., eMBA, will serve as CFO of SATO and a member of the Group's
management team. He will be responsible for finances and funding, IT and
procurement at SATO. Honkasalo joins SATO following the post of CFO at
Componenta Corporation. Prior to that Honkasalo has worked as the CFO with
Valmet Corporation and Rautaruukki Plc, and in different positions in the
paper and banking sectors.

The members of the Group's management team report to CEO Saku Sipola.

For more information please contact:

SATO Corporation

Saku Sipola, President and CEO, phone +358 201 34 4001 or +358 40 551 5953

SATO is one of Finland's leading rental housing providers. SATO's aim is to
offer comprehensive alternatives in rental housing and an excellent customer
experience. At the end of Q2/2016, SATO holds roughly 25,400 rental homes in
Finland's largest growth centres and in St Petersburg.

In our operations, we promote sustainable development and initiative-taking,
and work in open interaction with our stakeholders to create added value. We
operate profitably and with a long-term view. We increase the value of our
housing property through investments, divestments and repair work.

SATO Group's net sales in 2015 were €323.4 million, operating profit €196.5
million and profit before taxes €159.4 million. SATO's investment properties
have a value of roughly 3.2 billion (Q2/2016).


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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: SATO Oyj via Globenewswire

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