Algol purchased Itä-Länsi operations

Algol has purchased the entire share capital of the Finnish company Itä-Länsi
Oy - East-West Co. Ltd., which is specialized in the sales of industrial
chemicals on wholesale trade and agency basis. This deal is to strengthen
Chemical Division´s operations with new sales representations and products
specially related to foodstuffs and technochemicals industries.

The operations of Itä-Länsi Oy will be incorporated with Algol at the beginning
of April. The transaction does not involve any arrangements related to
employees. Having run the operations of Itä-Länsi Oy on a family basis for
nearly twenty years, Mr. Jussi Välilä, owner and leader of the company, will
now retire on a pension.

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