Fri October 31 08:14 am 2008 in category Stock exchange releases

Nokian Tyres to adjust production

in line with demand

The global financial crisis has created the need to adjust production and to improve productivity at the Nokian Tyres' factory in Finland.

Possible adjustment measures include lay-offs of approximately 1000 employees working at the Nokia factory in Finland from 21.12.2008 to 11.1.2009.

In addition, Nokian car and van tyres division is upgrading its production technology, which may have an impact on approximately 70 employees' work.

Also Nokian Heavy Tyres may have need for lay-offs of approximately 100 employees for approximately 7-8 months as of January 2009.

Negotiations related to the matters mentioned above will be started according to the law in Finland.

Nokian Tyres plc

Raila Hietala-Hellman
Vice President, Corporate Communications

Further information: Mr. Kim Gran, President and CEO,
tel. +358 10 401 7336.

Distribution: NASDAQ OMX and major media