Magnus Bargum appointed Chairman of Federation of Finnish Commerce

Algol Managing Director Magnus Bargum has been appointed Chairman of the
Federation of Finnish Commerce from the beginning of 2008 onwards. The three
deputy chairmen of the board during the forthcoming term will be Arto Hiltunen
(SOK), Hannu Penttilä (Stockmann Oyj Abp) and Jaakko Uotila (Alko Oy).

Magnus Bargum has been a member of the board of the Federation of Finnish
Commerce and one of three deputy chairmen since 2005, when the federation was
founded. He was elected First Deputy Chairman this year and assumed temporary
leadership of the association from August 2007 onwards following the retirement
of Kari Neilimo as Chairman.

The Federation of Finnish Commerce promotes the interests of wholesale and
retail companies and associations in order to improve the operating conditions
of commerce. The federation is one of the largest member organisations of the
Confederation of Finnish Industries EK.

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