EB, ELEKTROBIT CORPORATION STARTS PERSONNEL NEGOTIATIONS TO TEMPORARILY DISMISS A MAXIMUM OF 200 EMPLOYEES IN FINLAND

7 juni 2010 STOCK EXCHANGE RELEASE Free for publication, on June 7, 2010, at 2.00 pm (CEST +1) EB, ELEKTROBIT CORPORATION STARTS PERSONNEL NEGOTIATIONS TO TEMPORARILY DISMISS A MAXIMUM OF 200 EMPLOYEES IN FINLAND EB, Elektrobit Corporation has today announced that it starts personnel negotiations to adjust its cost level in the second half of 2010 to correspond its temporarily decreased order volumes. The negotiations concern 517 employees working in Elektrobit Wireless Communications Ltd and Elektrobit Corporation in Finland. The temporary dismissals target to cost savings of EUR 1.7 million in the second half of 2010. To achieve the targeted savings EB proposes to temporarily dismiss a maximum of 200 employees for maximum of 90 days. This measure has no effect on the outlook for the first half of 2010 as announced in April 29, 2010. EB will give the outlook for the second half of 2010 in context with the interim report January-June 2010. The decrease of order volumes is caused by i.a. a cancellation of a customer project and uncertainty of new customer projects' realization and timing in Wireless Solutions business. This measure has no direct impact on EB's customer work or on Wireless Solutions business strategy. "Since the situation is not caused by a permanent decrease in demand, we believe that by strengthening our sales efforts our order volume will improve. EB's personnel is very skillful and with the temporary dismissals we intend to find a solution to this situation" says Ari Virtanen, Executive Vice President, Wireless Solutions. Oulu, June 7, 2010 Elektrobit Corporation Jukka Harju CEO Further information: Ari Virtanen Executive Vice President, Wireless Solutions Tel. +358 400 435 878 Panu Miettinen CFO Tel. +358 40 344 5338 Distribution: NASDAQ OMX Helsinki Principal media EB, Elektrobit Corporation EB develops advanced technology and transforms it into enriching end user experiences. EB specializes in demanding embedded software and hardware solutions for the automotive industry and wireless technologies. The company's net sales for the year 2009 totaled EUR 153.8 million. Elektrobit Corporation is listed on the NASDAQ OMX Helsinki. www.elektrobit.com [HUG#1422042]