Elma to back Aspis bid for Lemeco

With reference to the submission of a Public Offer from Aspis Holdings Pcl (MFS) for the acquisition of up to 100% of Lemeco Silvex Pcl (LEM), the Board of Directors pf Elma Holdings (ELMA) held a meeting on Tuesday, July 10, 2007 and decided to accept the Public Offer and to proceed with the sale of the shares it holds in Lemeco Silvex (21.478.747 shares or 49.15%), to Aspis Holdings on the same terms as previously announced by Aspis.

Previously Aspis had said it will bid at book value of Lemeco Silvex, or EUR 0.10 per share. The commitment is subject to the term that the transfer of the shares will be accomplished in the first two days from the opening of Public Offer catalogues.