Stock Exchange release October 12, 2000 03:09:00 PM CET

METSO CORPORATION'S AUTOMATION AND CONTROL TECHNOLOGY STRENGTHENS ITS ENERGY AUTOMATION BUSINESS

Metso Corporation's automation and control technology business area, Neles Automation, has made an agreement on the acquisition of MAX Control Systems (MCS), a subsidiary in the Industrial Control Services Group (ICS) based in the UK. The acquisition will strengthen Neles Automation's energy automation business and support its expansion into new market areas, especially in North America and Asia. The acquisition will also increase the business area's after sales business.

MAX Control Systems designs, builds and installs plant-wide control and data acquisition systems for power stations and other complex continuous and batch process applications around the world. MCS is located in Philadelphia, USA, and has sales and customer service units in the UK, Spain and India. MAX Control System's yearly net sales are approximately EUR 20 million and it employs 130 persons.

Metso's automation and control technology businesses concentrate on pulp and paper industry, mineral processing and energy industry process automation, and information management and field control systems.

The Industrial Control Services Group (ICS), parent company to Max Control Systems, has been a pioneer in developing computer-based safety systems for industrial applications. Headquartered in the UK, ICS is a global provider of supervisory control and data acquisition (SCADA) systems for industrial processes.

Metso Corporation's automation and control technology business area, Neles Automation, develops and supplies process automation and flow control solutions for the pulp and paper, refining, petrochemical, chemical and energy industries. In 1999, the business area's net sales were EUR 599 million and it employed 4,350 persons.

Metso Corporation is a global supplier of process industry machinery and systems. Metso's business areas are fiber and paper technology, automation and control technology, and machinery. In 1999, the net sales of Metso Corporation were EUR 3.4 billion, and the personnel totaled approximately 23,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.