NESTE OIL TO BOOK A EUR 19 MILLION WRITE-DOWN IN ITS CANADIAN SUBSIDIARY

Neste Oil Corporation                       Stock Exchange Release

                                                            18 September 2006 at 2:00 pm EET

 

Neste Oil has identified some unclear bookings in the accounts of its Canadian subsidiary. These bookings, which date back to late 1990's, are expected to result in a write-down of some EUR 19 million in the Group's third-quarter figures. The person in charge of the Canadian operation no longer works in the company. Neste Oil is continuing to investigate the case assisted by an independent auditor.

 

 

Neste Oil Corporation

Osmo Kammonen

Senior Vice President, Communications

 

 

Neste Oil Corporation is a Northern European oil refining and marketing company, with a focus on advanced, clean traffic fuels. Neste Oil's refineries are located in Porvoo and Naantali in Finland, and have a total refining capacity of approx. 250,000 bbl/d. The company employs around 4,600 people. Neste Oil is listed on the Helsinki Stock Exchange (symbol: NES1V). For further information, see www.nesteoil.com.