Wärtsilä continues expansion within ship desi...

Wärtsilä Corporation, Press release, 22 September 2008, at 9.10 am
(EET)

Wärtsilä has today agreed to acquire a leading naval architecture and
ship design company Conan Wu & Associates Pte Ltd (CWA),
headquartered in Singapore. The deal also includes partnership
agreements regarding CWA's business in Malaysia, China and Hong Kong.

The price of the deal is EUR 23 millions, to be paid in cash, and an
additional amount to be paid based on the performance of the business
in years 2008-2010.

In 2007, the turnover generated by CWA's businesses was EUR 10.7
millions and the profitability was on a very good level. CWA has 66
employees in Singapore.

"This deal is a clear demonstration of Wärtsilä's commitment to
becoming the leading provider of ship design services in the areas,
which we specialize in, including offshore and special vessels as
well as selected merchant vessels. CWA has a strong market position
and the company's outstanding know-how is a welcome addition to
Wärtsilä's offering. By incorporating CWA into our existing ship
design business, we expect to further strengthen the competitiveness
of CWA's offering to its customers, and thus CWA's business
prospects," says Jaakko Eskola, Group Vice President, Wärtsilä Ship
Power.

The acquisition of CWA is a further major step in Wärtsilä's strategy
of strengthening its position as a total solutions provider, and of
being the most valued partner for its customers. Expansion within
ship design is an important move for Wärtsilä, as it brings the
company closer to its maritime industry customers. Wärtsilä intends
to offer the best and most efficient total solutions, regardless of
equipment used.

The total marine solutions provided by Wärtsilä are uniquely
competitive in their ability to integrate and optimize the various
operating processes of the entire vessel. This new and innovative way
of combining ship design know-how with equipment solutions and
services will lead to significant customer benefits, e.g. in terms of
improved efficiency and reduced emissions.

"The acquisition of CWA expands the geographical scope of Wärtsilä's
ship design services. It also excellently complements and broadens
Wärtsilä's ship design competence to cover a larger range of vessel
types, including smaller, less complicated and more standardized
vessels," says Arne Birkeland, Vice President, Wärtsilä Ship Design.

During recent years, Wärtsilä has developed and expanded its offering
within ship design, first by establishing a conceptual design unit in
2004. This was followed by the acquisition of the German ship design
company SCHIFFKO in 2006. In July 2008, Wärtsilä acquired the global
ship design group Vik-Sandvik of Norway. Today, Wärtsilä's ship
design activities include operations in more than 10 countries and
more than 500 employees.

CWA is a leading player in this field, specializing in naval
architecture and ship design services to ship builders and ship
owners. The company's core competence is in the design of offshore
vessels and tugs, as well as barges and smaller merchant vessels. CWA
has a strong market position in South and South East Asia. As a part
of Wärtsilä, CWA has excellent growth potential throughout the
region, including China, India and Vietnam.

"Being a part of Wärtsilä will allow CWA to realise its huge
potential, both in Asia as well as in other markets. This deal is a
great opportunity to further develop our know-how and our business on
a global scale," says Dato Conan Wu, Chairman, CWA Pte Ltd.

CWA will be integrated into Wärtsilä Ship Design within the company's
Ship Power business. All personnel in Singapore - including the
former owners Dato Conan Wu and Mr Mok Kim Terng as well as the rest
of the management of CWA - will continue in Wärtsilä's service.

Further information, please contact:

Mr Jaakko Eskola
Group Vice President
Wärtsilä Ship Power
Tel: [phone]

Mr Arne Birkeland
Vice President, Wärtsilä Ship Design
Wärtsilä Ship Power
Tel: [phone]

Wärtsilä in brief
Wärtsilä enhances the business of its customers by providing them
with complete lifecycle power solutions. When creating better and
environmentally compatible technologies, Wärtsilä focuses on the
marine and energy markets with products and solutions as well as
services. Through innovative products and services, Wärtsilä sets out
to be the most valued business partner of all its customers. This is
achieved by the dedication of more than 17,000 professionals manning
160 Wärtsilä locations in 70 countries around the world. Wärtsilä is
listed on the Nordic Exchange in Helsinki, Finland. www.wartsila.com