INCAP TO INCREASE ELECTRONICS PRODUCTION CAPACITY IN KURESSAARE, ESTONIA

Stock Exchange Release, 24 March 2004 12.15 p.m.

Incap Corporation has decided to increase the company’s production in Estonia, in line with its previous strategy. The production facilities of the Kuressaare manufacturing unit will be tripled from the present area during 2004. The unit’s production capacity will be increased through automatic surface mounting lines and testing equipment, among others. According to the plan, the expansion of facilities will be implemented on the basis of the present leasing agreement.

 
“The expansion of the Kuressaare unit will strengthen our reliability of delivery and improve our competitive position. The investment is part of structural arrangements initiated previously and is based on the examination of opportunities for expanding operations in the Baltic states. A pick-up in demand gave fresh impetus to expanding production,” says Juhani Hanninen, President and CEO of the Incap Group. “After this expansion, we will have two strong, mutually complementary units of electonics manufacturing – one in Vuokatti and the other in Kuressaare.”
 
INCAP CORPORATION
Board of Directors
 
 
Juhani Hanninen
President and CEO
 
 
DISTRIBUTION
Helsinki Exchanges
Principal media



For further information, contact:
Juhani Hanninen, President and CEO, tel. +358 (0)50 556 7199
Tuula Ylimäki, Chief Financial Officer, tel. +358 (0)40 347 2025
Hannele Pöllä, Director, Communications and Investor Relations, tel. +358 (0)40 504 8296