SAULI HUIKURI WAS NOMINATED PRESIDENT FOR INCAP FURNITURE

Sauli Huikuri, MSc, (b. 1958) has today been nominated President for Incap Furniture Ltd., the furniture-manufacturing subsidiary of Incap Group in Oulu, Finland.

Sauli Huikuri has held different positions in Incap Group from 1992 onwards, having worked most recently as Vice President of Marketing for Incap Furniture.

Vesa Karihtala, former President for Incap Furniture, has been nominated Vice President of Business Operations for Incap Corporation, the Group’s parent company, and he will be responsible for the Group’s special projects, such as the planning and acquisition of new manufacturing units.

Incap Furniture is a contract manufacturer of furniture, which designs and manufactures self-assembly softwood furniture for large international furniture chains. The company’s production units are located in Kärsämäki and Varpaisjärvi. Net turnover in January – June 1999 was 16.9 million euro, and 92 percent of the net turnover came from exports.

The main markets of Incap Furniture are in the European Union. To consolidate its position on the US market, the company will start up a sales office in High Point, North Carolina, on the 11th of October. At the present, about 10 percent of the production of Incap Furniture is exported to the United States, where, according to market surveys, the demand for self-assembly furniture is still growing.

Incap Group is a contract manufacturer of electronics and furniture. The Group’s net turnover in January – June 1999 was 34.9 million euro. During this reporting period, the Group employed a total of 684 people, of whom 253 worked for Incap Furniture.

Oulu, 4 October, 1999

INCAP CORPORATION

Tero Frey

President & CEO