MERGER OF INCAP ELECTRONICS LTD TO INCAP CORPORATION IS EFFECTIVE

The implementation of the merger of Incap Electronics Ltd to Incap Corporation has been entered into the trade register on 31 December 2001 in accordance with the merger plan signed by the Boards of the two companies involved in March 2001.

The merger is aimed at streamlining the corporate structure and administration, and it results in some cost savings.

The contract manufacturing of electronics continues in the name of Incap Corporation. The employees of Incap Electronics Ltd are enrolled as “old employees” by Incap Corporation.

The merger causes no need to amend the Articles of Association of Incap Corporation. After the merger, Incap Corporation has two subsidiaries, Incap Electronics Estonia Oü and Incap Furniture Ltd.

Espoo, 2 January 2002

INCAP CORPORATION

Kari Saarinen
President and CEO



DISTRIBUTION
Helsinki Stock Exchanges
Major media





Further information:
President Kari Saarinen, tel. +358 40 830 5689
CFO Eija Jansson-Tervonen, tel. +358 40 557 5749