JULY-SEPTEMBER RESULTS SLIGHTLY BETTER THAN APRIL-JUNE

ASPOCOMP GROUP OYJ STOCK EXCHANGE RELEASE Sept 29, 2004 at 8:00 AM 1(3)

JULY-SEPTEMBER RESULTS SLIGHTLY BETTER THAN APRIL-JUNEarkets Day, Aspocomp will discuss the company’s

strategic long-term objectives.
“The minimum targets set by the company’s Board of Directors for the

balance sheet structure are an equity ratio of at least 40% and a

gearing ratio not exceeding 100%. Within this framework, the company’s

currently strong balance sheet and cash flow from operations allow

investments to be made to achieve significant growth in the long term,”

says CEO Maija-Liisa Friman.
PCBs and Modules will be Aspocomp’s core businesses in the future.
The increase in demand for PCBs supplied to the mobile phone,

telecommunications and automobile industries is expected to

significantly exceed the general growth in the industry, and Aspocomp is

working to further strengthen and stabilize its good position as a

supplier of PCBs to these industries. Aspocomp is concentrating on these
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rapidly growing segments and working on further increasing its market

share in them.
Another one of Aspocomp’s core business areas is modules, the

expectations of good growth for which are based on both an increase in

existing applications and the fact that the company’s new module

technologies under development are expected to provide an opportunity to

respond to an increasing portion of the needs of the value chain in

electronics manufacturing. The new generation module business is still

in development phase. A decision on investments in production facilities

will be made once the technology has matured enough to be deployed in

mass manufacturing processes.
“The growth in the demand for PCBs supplied to the mobile phone,

telecommunications and automobile industries during the next five years

is expected to be slightly less than 10% annually. Our strong balance

sheet and cash flow allow significant growth and development projects

for our core businesses that are aimed at a growth that is clearly above

the market average while adhering to our balance sheet targets and

maintaining a sufficiently solid financial position. Growth will,

however, be considerably slower next year due to the high utilization

rate of our current production capacity. This year, especially in the

Mechanics and Modules business we have experienced exceptionally high

utilization rates, and we expect them to be lower next year,” says CEO

Maija-Liisa Friman.
For further information, please contact CEO Maija-Liisa Friman,

tel. +358 9 7597 0711.
ASPOCOMP GROUP OYJ
Maija-Liisa Friman

President and CEO
ASPOCOMP IN BRIEF
The Aspocomp Group serves the electronics industry by supplying

high-tech electronic components and services such as PCBs (printed

circuit boards), and PCB-related designs as well as mechanics and

modules. Aspocomp’s products are used in the electronics industry,

mobile handsets, telecommunications infrastructure, automotive and

other industrial applications. The Aspocomp Group’s production

facilities are located in Finland, China and Thailand. In 2003,

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Group net sales were EUR 180 million approximately, and the Group

had some 3,300 employees. The parent company, Aspocomp Group Oyj,

has been listed on the Helsinki Exchanges since 1999.
Distribution:

The Helsinki Exchanges

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www.aspocomp.com