PMJ automec has sold its Project Business Unit to Lohja, Finland based Photonium Oy. Project Business Unit designs, manufactures and sells customer specific final asssembly and packing lines.

Selling price was 1,0 MEUR and it will be paid in cash. The transaction has a 0,2 MEUR positive profit effect to PMJ automec. The business of the Project Business Unit has not been profitable to PMJ automec.

Simultaneously with the transaction PMJ automec and Photonium Oy signed a purchase agreement, according to which PMJ automec supplies its standard products and related software to Photonium Oy to be used in the future customer specific projects of Photonium Oy.

Twenty two employees of PMJ automec will be transferred to the payroll of Photonium Oy as former employees. After the transaction PMJ automec has 214 employees from which 126 in Virkkala headquarters of PMJ automec, 41 employees works in test equipment unit in Salo and 47 employees works in subcidiaries outside Finland.

According to the CEO of PMJ automec, Mr Jouni Suutarinen, transaction with Photonium Oy relates to the implementation of PMJ automec´s strategy, according to which corporation focuses only to the development of standard product
business and by doing this creates better conditions for a profitable growth.

Photonium Oy is a manufacturing technology supplier for photonics industry. Since 2001 the company has developed a wide product portfolio related to manufacturing of optical special fibers and components. Photonium Oy supplies
currently equipment and technology worldwide. Mr Markku Jokela, a member of PMJ automec´s board of directors owns together with his family directly and via his investment company, FT Capital Oy approximatelly 60 percent of
Photonium Oy. Mr Jokela has not taken part to the decision-making concerning the transaction and the future business relationship between Photonium Oy and PMJ automec. Other significant shareholders of Photonium Oy are venture capital
firms Spinno Seed Oy and Stratos Ventures Fund I LP as well as operative management of Photonium Oy.

Also the transaction, published on November 1, 2004, in which the cable manufacturing operations and the remaining shares of Mecra tekniikka Oy were sold, published on November 29, 2004 as well as the standard product distributor and service agreements, signed on last summer with Singapore based Autron Corporation Limited (www.autroncorp.com) and England based Test Solutions Ltd (www.testsolutions.biz) were a part of the implementation procedure of the new strategy of PMJ automec.


Virkkala, December 17, 2004

PMJ automec Corporation

BOARD OF DIRECTORS


Further information:

PMJ automec Corporation
Jouni Suutarinen
CEO
Tel. +358 19 6610 214

Photonium Oy
Taneli Tuurnala
CEO
Tel. +358 19 357 381