Martin Granholm appointed Chairman of the Board of Algol

Algol´s Annual General Meeting has elected Martin Granholm as Chairman of the
Board of Algol Oy. He succeeds Gerhard Wendt in this position. Martin Granholm
has been a Member of the Board of Algol since 2004.

Martin Granholm was born in Pietarsaari, Finland in 1946 and graduated with a
Master´s degree in engineering in 1971. Granholm possesses a wide range of
experience in management positions within industry and board work for Finnish
and international companies and organisations. He also serves as Nordic
representative on the Board of the International Chamber of Commerce (ICC). Abo
Akademi granted Martin Granholm an honorary doctorate in technology in 2002. He
was awarded the honorary title of Industrial Counsellor in 2005.

Alexander Bargum, Magnus Bargum, Ingmar Lindberg and Leif Lund continue as
Members of the Board of Algol.

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