Neste Oil to purchase ethanol from Altia for its biogasoline production

Neste Oil Corporation  
Press Release
19 September 2006 at 1:00 p.m. EET

Neste Oil has signed a procurement contract concerning the supply of domestic ethanol with Altia Corporation. According to the long-term contract, which will enter into force at the beginning of 2009, Altia will supply 76,000 cubic meters of ethanol to Neste Oil annually. Neste Oil will use the ethanol in its biogasoline production.

"We always choose domestic raw materials when it is commercially viable. Thanks to this procurement contract, we will be able to offer domestic biogasoline to our customers in Finland," says Kimmo Rahkamo, Neste Oil’s Executive Vice President, Components.

Neste Oil mainly uses ethanol for the manufacture of the ETBE gasoline component or, alternatively, mixes the ethanol with the gasoline. Altia will not be able to supply all the ethanol Neste Oil needs annually.

The use of ethanol in the manufacture of biogasoline supports company’s strategy of combining a variety of cost-effective raw material inputs with advanced refining know-how to produce advanced, premium-quality traffic fuels.

Neste Oil Corporation
Osmo Kammonen
Senior Vice President, Communications

For further information, please contact Kimmo Rahkamo, Executive Vice President, Components on +358 10 458 4247 or Jyrki Ignatius, Vice President, Biofuels on +358 10 458 7034.

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 approximately 250,000 bbl/d. The company employs around 4,600 people, Neste Oil is listed on the Helsinki Stock Exchange. For further information, see www.nesteoil.com