Tampere 2.6.2008
ALSO purchased remaining 49,9 % stake in GNT Holding Oy, and changes in management in GNT Finland

On Monday, 26 May, 2008, ALSO Group has announced, that ALSO has acquired the remaining 49,9% stake in GNT Holding Oy group for CHF 75.5 million (euro 46,5 million).

Since 1 September, 2006, ALSO has held a 50,1% stake in the Finnish GNT Group, the leading distributor for information technology and consumer electronics (ICE) in the Nordic countries and Eastern Europe, with the option to purchase the remaining 49,9% of the shares by 2008 or 2010.

At the same time, changes in management responsibilities at GNT Finland have been announced. Ms Maija Strandberg, CFO of GNT Group, has been appointed, effective immediately, as Managing Director for GNT Finland Oy and GNT Holding Oy. She will also be part of enlarged management board of ALSO Group. Maija Strandberg has been acting as GNT Group CFO since April 2007. Previously she held management positions in finance and operations in John Deere Forestry group.

Mika Eronen, currently acting as product marketing and logistics director for GNT Finland Oy, has been appointed as Deputy Managing Director for GNT Finland Oy, and will be responsible for sales, marketing and logistics.

Apart from the announcements above on company top management, same key people at GNT will continue to service and support You in a same good manner as previously. We look forward to our continuous successful business relation, and hope to strenghten it further.

Since this date, GNT will be an integral part of ALSO Group, one of the leading European companies in the wholesale and logistics sector for information technology and consumer electronics. Since 1986 ALSO has been listed on the Swiss stock exchange. GNT is active in Finland, Sweden, Norway, Estonia, Latvia, Lithuania and Poland, and ALSO in Switzerland, Germany and Austria. GNT’s head office and distribution center is located in Tampere. GNT has locations in Helsinki, Turku, Oulu, Tallinn, Riga, Kaunas, Vilnus, Upplands Väsby, Oslo, Sandefjord and Wroclaw.