The Board has a Nomination Committee that is responsible for giving guidance to the shareholders through the Board regarding the composition of the Board and remuneration of Board members. Further, it prepares a proposal to the Board on the composition and Chairmen of the Board Committees.

The Committee is comprised of 3–4 non-executive board members who are independent and not affiliated with the Company. The Nomination Committee meets regularly at least once a year. The Chairman of the Committee presents the proposals of the Nomination Committee to the Board. The tasks and responsibilities of the Nomination Committee are defined in its charter, which is approved by the Board.

In 2004

The Nomination Committee comprised four members, Krister Ahlström (Chairman), Claes Dahlbäck, Harald Einsmann and Ilkka Niemi, and convened once. During 2004 the main tasks were to prepare guidance for the Board and Annual General Meeting regarding the election of Board members and their remunerations.

Remuneration

Chairman EUR 5 000 per annum and member EUR 3 000 per annum.

Summary of Charter

Main Tasks

• To give guidance to the shareholders through the Board regarding the composition of the Board and remuneration of Board members
• To prepare a proposal to the Board on the composition and chairmen of the Board Committees

Composition

• 3–4 non-executive Board members who are independent and not affiliated with the Company

Meetings and Reporting to the Board

• The Nomination Committee meets regularly at least once a year
• The Chairman of the Committee presents the proposals of the Nomination Committee to the Board