Stock Exchange release May 3, 2000 07:00:00 AM CET

METSO WILL INVEST IN NEW TECHNOLOGY

In order to respond to the rapidly changing demands of process industry markets, Metso Corporation is establishing a company to focus on the development of electronic trading. The aim is to put Metso at the forefront of traditional industry in applying e-business during 2001. The company, to be known as e-Metso, will start operations in June.

E-Metso's target is to innovate and support the integration of new and traditional technologies in Metso. E-Metso will also optimize the development and use of resources related to electronic trading, support the projects of the business areas and apply leading edge solutions to the needs of the Corporation. To start the business operations, Paul-Erik Toivo has been appointed President of the company.

Information technology, the Internet and wireless data transfer are creating new opportunities for the automation and development of process industry. Metso’s customers in the process industry are now going through a period of change. They are concentrating and globalizing, out-sourcing their operations, and increasingly transferring responsibility for the maintenance and modernization of their machinery to business partners. Metso has well-functioning solutions already in operation and the Corporation aims to be one of the main players involved in these development trends.

E-Metso is an integral part of Metso’s business and customer service concept, and an important factor in Metso’s attempt to gain a larger share of the changing process industry markets. The Metso Futur-e Care concept exploits all of Metso’s service know-how in order to improve customer competitiveness in the future. Metso Futur-e Care is based on Metso’s existing strengths – its significant position in process industry markets, its strong technological position and its extensive base of installed machines and equipment.

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