A good year for Algol in 2001

Algol expects that the figures for 2001 will show a good operational result and
steady growth in net sales. The result has been reached on a broad front
throughout the Group: at the parent company and subsidiaries, in Finland and
abroad. The company´s solidity remains excellent.

Managing Director Magnus Bargum regards the development as encouragingly good,
especially when the basis for comparison is the year 2000, which was marked by
a strong economic boom. He says that the targets for the new financial period
are carefully optimistic as well, although the overall economic outlook is
weaker now that the world economy has slowed down to a recession and future
developments are exceptionally difficult to predict.

According to Magnus Bargum, economic fluctuations are evened out at Algol by
the diversity of the company and by its wide range of products, which are not
affected in the same way by changes. The sales of raw materials and
semi-finished products follow trends in industry nearly in real time, while the
delivery cycles for equipment and systems may be many years long. Algol also
deals in healthcare products, which is a sector all its own.

The financial statement of the Algol Group will be ready in March. The Group´s
companies operate in Finland, Estonia, Latvia, Lithuania, Russia, Sweden and
Norway. The figures for the last third of the financial period include the
Nordic chemical distributor Björn Fredlund AB, whose share capital Algol
acquired last summer.

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