Date Subject
19.06.2006 LÄNNEN TEHTAAT PLC ACQUIRES REMAINDER OF APETIT KALA OY'S SHARES
Lännen Tehtaat plc Stock Exchange Release June 19, 2006 at 2;00 p.m.

LÄNNEN TEHTAAT PLC ACQUIRES REMAINDER OF APETIT KALA OY'S SHARES

Lännen Tehtaat plc and Antti Räsänen have today reached agreement on a share
transaction whereby Antti Räsänen's 49 per cent shareholding in Apetit Kala Oy
will be transferred to Lännen Tehtaat plc, the price for the shares being EUR 1.5
million.

The transaction is a continuation of the arrangement made in 2004 whereby Lännen
Tehtaat plc acquired 51 per cent of the shares in Apetit Kala Oy (formerly
Kuopion Kalatukku Oy) from Antti Räsänen. After today's transaction Apetit Kala
Oy will be totally owned by Lännen Tehtaat plc.

In Lännen Tehtaat's food businesses fish is one of the fastest-growing focal
product areas. The transaction will bring a clearer definition to and simplify
the structure of Lännen Tehtaat's fish business and improve the scope for its
development.

Apetit Kala Oy is Finland's leading company specializing in producing fish
products. Apetit Kala's main product groups are cold-smoked and hot-smoked fish
products, lightly salted fish products and pan-ready fish products. The company
has fish-processing plants in Kuopio, Kerava and Kustavi. Apetit Kala Oy's net
sales for 2005 totalled EUR 54.5 million. The company employs about 390 people,
of which 210 working part-time.

The transaction is expected to improve the Group's earnings per share for the
present year by about EUR 0.05. The deal is subject to the approval of the
competition authorities.


LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO

More details: Matti Karppinen, tel. +358 10 402 4001


Distribution:
Helsinki Stock Exchange
Main media
www.lannen.fi

09.05.2006 INTERIM REPORT FOR JANUARY 1 - MARCH 31, 2006
Lännen Tehtaat plc Stock Exchange Release May 9, 2006 at 8;30 a.m.

INTERIM REPORT FOR JANUARY 1 - MARCH 31, 2006

. Consolidated net sales increased by 3% to EUR 97.0 million in January-March
(2005: EUR 94.0 million).
. Net sales of all continuing divisions increased.
. Operating profit/loss excluding non-recurring items improved by EUR 1.1 million
to EUR 0.7 (-0.4) million.
. Operating loss after non-recurring items EUR -0.5 (-3.6) million.
. Profit/loss before taxes EUR 1.1 (-4.4) million.
. Earnings per share EUR 0.03 (-0.49).
. Clearer definition for structure continued.
. Programme to cut overheads implemented.

This interim report has been drawn up according to the IFRS recognition and
valuation principles. This interim report does not comply with all of the
requirements of IAS 34, Interim Financial Reporting.

The information in the report is unaudited.


Key indicators, EUR million
1-3/2006 1-3/2005

Net sales 97.0 94.0
Operating profit/loss excluding non-
recurring items 0.7 -0.4
Operating profit/loss after non-
recurring items -0.5 -3.6
Profit/loss before taxes,
excluding non-recurring items -0.2 -1.2
Profit/loss before taxes,
after non-recurring items 1.1 -4.4
Profit/loss after taxes 0.4 -3.4
Earnings per share, EUR 0.03 -0.49


NET SALES AND PROFITS
Lännen Tehtaat's net sales in January-March totalled EUR 97.0 (94.0) million. The
net sales of the Food Division fell with the termination of sugar sales at the
end of 2005. The net sales of the Feed segment and Grain Trading rose.

Lännen Tehtaat's operating profit excluding non-recurring items during the period
under review was EUR 0.7 (-0.4) million. The financial performance in all of the
divisions improved. The loss before taxes and excluding non-recurring items was
EUR -0.2 (-1.2) million and after non-recurring items EUR 1.1 (-4.4) million. The
profit after taxes was EUR 0.4 (-3.4) million.

During the period under review the Group sold the investments it had made in the
shares of other quoted companies, realizing a profit of EUR 2.4 million, which
has been recorded under financial income.


BUSINESS SEGMENTS
The net sales of the Food Division totalled EUR 26.2 (32.0) million. The
comparable net sales of the Food Division in January-March went up by 8 per cent,
if the effect of the terminated sugar sales, EUR 7.7 million, is eliminated from
the net sales of the comparison period. The net sales of the Apetit Frozen Foods
business unit rose slightly. The net sales of retail products went up by 2 per
cent over the comparison period. The growth was greatest in the strategic focal
groups of ready-made frozen foods. Sales of frozen vegetables sold under the
Apetit brand went well. Sales of jam went down. Apetit Kala's net sales rose by
14 per cent compared with the corresponding period one year earlier, the focus
being on consumer-packaged fish products. Shop-in-shop sales showed strong
growth.

The operating loss of the Food Division excluding non-recurring items was EUR
-0.4 (-1.1) million and after non-recurring items EUR -0.5 (-1.1) million.
Financially, the Apetit Frozen Foods business unit performed at a similar level
to the comparative period, while Apetit Kala's performance was considerably
better than that in the comparative period. The non-recurring expenses of EUR 0.1
million are related to reductions in the division's personnel.

The net sales of the Feed business totalled EUR 52.9 (44.0) million. The effect
of Mildola on the growth in the segment's net sales was EUR 7.2 (-) million. The
comparable net sales went up by 4%. The growth in net sales was attributable to
an increase in sales volumes and rise in sales prices.

The operating profit of the Feed segment excluding non-recurring items was EUR
2.0 (1.7) million and after non-recurring items EUR 1.5 (-1.5) million. Mildola
had a positive effect on the financial performance. The profitability of feed
sales suffered in the early part of the year from high raw-material prices, the
effect of which could not be passed on entirely to sales prices. Non-recurring
costs of EUR 0.5 million comprise provisions made for reductions in personnel.

The net sales of Grain Trading rose by 8 per cent. The net sales during the first
quarter totalled EUR 21.5 (19.7) million. Grain Trading's volume rose from the
level in the comparative period. Market prices were also higher. The operating
profit amounted to EUR 0.4 (0.1) million. Derivate instruments to which hedge
accounting could not be applied had an adverse effect of EUR 0.2 million on the
result in the comparative period.

At the end of this reporting period, following the sale of the entire
shareholding in Harviala Ltd, the Other Operations segment comprises only
operations that are common to the Group and unallocated to the segments. The
segment's net sales were EUR 0.0 (1.8) million. The net sales of the Lännen Plant
Systems business unit are included in the comparative year.

The segment's operating loss was EUR -1.9 (-1.0) million, the main constituent of
which is non-recurring expenses of EUR 0.6 million caused by the sale of the
shares in Harviala Ltd.


FINANCING AND CASH FLOW
The Group's financing situation and liquidity remained good. The cash flow from
operations after interest and taxes stood at EUR 4.7 (4.2) million. The net cash
flow from investment was EUR 2.7 (-0.7) million.

At the end of the period under review the Group had interest-bearing liabilities
amounting to EUR 41.9 (48.2) million and liquid assets of EUR 14.7 (11.0)
million. Net interest-bearing liabilities totalled EUR 27.2 (37.2) million. The
consolidated balance sheet total was EUR 211.6 (205.7) million. The equity ratio
was 52.4% (48.4%). Commercial papers issued for the Group's short-term financing
stood at EUR 17.0 (15.0) million at the end of the review period. Liquidity is
secured with long-term committed credit facilities, none of which were used
during the financial period.


INVESTMENT AND CHANGES IN THE GROUP STRUCTURE
The gross investment in non-current assets during the period under review
amounted to EUR 1.2 (0.3) million. Investment by the Food Division totalled EUR
0.2 million and by the Feed segment EUR 0.9 million. The most significant
investment was associated with the extension to the Lännen Rehu factory at Säkylä
and a loading station for bulk feed at Suomen Rehu's Seinäjoki factory. Other
investment concerned mainly productivity and replacements.

ZAO Scandic Feed, a joint venture company owned equally by Lännen Tehtaat and
Raisio, acquired control of ZAO Tosno Feed Factory, which produces and markets
feeds. The factory is situated near St Petersburg in Russia. The final
implementation of the transaction is still subject to clearance by the Russian
competition authorities.

At the end of March Lännen Tehtaat plc sold its entire shareholding in Harviala
Ltd to Saarioisten Taimistot Oy, recording a loss of EUR 0.6 million on the
transaction. Harviala Ltd has been included in the consolidated income statement
until the end of February.

Suomen Rehu Ltd's Latvian subsidiary, SIA Baltic Feed, established a subsidiary
in Lithuania. The new company, UAB Baltijos Pasarai, will engage in the direct
sale of feed in Lithuania.


IMPORTANT EVENTS AFTER THE REVIEW PERIOD
Lännen Tehtaat plc's associated company Sucros Ltd has brought to a conclusion co-
determination talks with the personnel on the closure of the sugar beet factory
at Salo, and the Board of Directors of Sucros Ltd at a meeting held on April 4,
2006 decided to close down the factory after the production season this year. In
accordance with the EU decision on the reduction of the sugar quota, Sucros Ltd
will be seeking restructuring assistance from a fund set up by the EU for the
purpose. The combination of the assistance and write-downs realized in closing
the factory and other costs associated with the closure are not expected to have
an impact on Lännen Tehtaat's share of the profit in 2006.

In a transaction carried out on April 13, 2006 Suomen Rehu Ltd acquired from
Maatalouskesko Oy the 17.5 per cent interest held by the latter in Mildola Oy,
thus making Suomen Rehu Ltd the sole owner of Mildola Oy.

Lännen Tehtaat is planning the start of ethanol production as part of the
development of the Agricultural Division's operations. Lännen Tehtaat has carried
out a feasibility study of the conditions for starting the production of ethanol
for fuel purposes in western and southwestern Finland. Studies show that the best
conditions for this kind of production lie in the region. The region has adequate
potential for cultivating barley as the raw material for the ethanol plant. There
is also plenty of pig farming in the region, which will be important in terms of
utilizing the animal feed created as a by-product at the plant. There are also a
number of feed factories that will be able to use some of the by-products from
the plant as raw material for the feed. The study shows that it will be possible
to produce ethanol for fuel in Finland profitably if it is integrated with the
animal feed industry.

The feasibility study has planned for the production plant to be located at
Säkylä, on the Iso-Vimma industrial estate. Such a location would enable use of
Lännen Rehu's drying facilities during processing of the by-products. Following
the preliminary studies, Lännen Tehtaat has decided to conduct an environmental
impact assessment for investment in the factory at Säkylä, which is required in
order for the ethanol plant to be built.


DIVIDEND FOR 2005
The Annual General Meeting held by Lännen Tehtaat plc on March 29, 2006 approved
the distribution of a dividend of EUR 0.73 (EUR 0.65) per share for 2005. The
total amount of the dividend, EUR 4.6 million, was taken out of retained earnings
and recorded under interest-free short-term liabilities in the balance sheet at
the end of March. The dividend was paid on April 10, 2006.


BOARD OF DIRECTORS' AUTHORIZATIONS
The Annual General Meeting authorized the Board of Directors to raise the share
capital by new share issues and/or to issue a convertible bond. The
authorizations are valid one year, until March 29, 2007. In a new share issue
and/or an issue through a convertible bond, the share capital can be raised by a
maximum total of EUR 1,263,514 in such a way that a maximum of 631,757 shares
with a nominal value of EUR 2.00 are offered for subscription.

The Board of Directors was authorized to diverge from the shareholders' pre-
emptive subscription right to new shares and/or to convertible bonds if the
company's financial status so requires. The authorization also covers the right
to decide on the subscription prices, those entitled to subscribe shares,
subscription terms, terms concerning a convertible bond and other terms and
aspects related to a new share issue and/or issue of a convertible bond.

The Board of Directors was also authorized to decide on the surrender of the
company's own shares. The authorization concerns the 65,000 company shares
acquired using the authorization granted by the AGM on April 5, 2001. The Board
is authorized to decide to whom and in what order the company's own shares are
surrendered. The shares can be surrendered in one or more tranches. The Board may
decide to surrender the Company's own shares otherwise than in proportion to the
pre-emptive right of shareholders.

So far the Board has not used the authorization given by the Annual General
Meeting to increase the share capital or surrender the company's own shares.


SHARES
During the period under review 658,741 (888,808) company shares were traded on
the Stock Exchange, i.e. 10.4 (14.1) per cent of the total stock. The highest
share price was EUR 23.42 (13.70) and the lowest EUR 17.90 (11.90). The share
turnover for the period totalled EUR 13.3 (11.7) million. The market
capitalization on March 31, 2006 was EUR 144.8 (85.9) million.


PERSONNEL AND ORGANIZATION
The average number of personnel during the period under review was 956 (974). The
number fell in the Food Division and Other Operations segment. In the Feed
segment it increased mainly as a result of Mildola becoming part of the Group.


SEASONALITY OF OPERATIONS
The transfer to IFRS reporting has had a material impact on the accrual of Lännen
Tehtaat's profits over the financial year. As a result of seasonal production and
valuation of inventories in accordance with IAS 2, most of the Group's annual
profit accrues during the final quarter.

Because of the harvest production the seasonal nature of the operations features
most strongly in the Food Division and in the operations of the associated
company Sucros. There is also some seasonal fluctuation in the Feed segment.
Apetit Kala's sales depend on seasonal holidays. A major portion of the entire
year's profit depends on the success of Christmas sales.

Grain Trading's net sales fluctuate annually and quarterly, depending on supply
and demand and on grain prices in Finland and on other markets. Grain Trading
accounts for 20-25 per cent of the Lännen Tehtaat's consolidated net sales. A
fluctuation in its net sales has a considerable impact on the entire Group's net
sales.


PROSPECTS FOR THE END OF THE YEAR
The Food Division's net sales will fall from last year because of the absence of
sugar sales. The net sales of the continuing food business operations will
increase, and the financial performance will be much better because of the
improvement in Apetit Frozen Foods' cost-effectiveness and Apetit Kala's growth.
Increased demand for fish has raised the raw fish prices on world markets. This
rise is expected to slow down the improvement in Apetit Kala's financial
performance starting from the second quarter.

The study started in the autumn into bringing about a significant expansion in
the Group's food business both in Finland and in northern parts of the Baltic Rim
continued.

Investment by the Feed segment will continue by extending and modernizing SIA
Baltic Feed's factory in Latvia. Approval from the Russian competition
authorities for the acquisition of the Tosno feed plant by the joint venture
company ZAO Scandic Feed is expected in the early summer. The closure of the feed
factory at Vaasa and the transfer of production to other feed factories will take
place in stages during the summer.

Net sales for the entire year by the Feeds business will grow, most of the growth
coming from the acquisition of Mildola. As a result of the improved cost-
effectiveness and Mildola's inclusion, the operating profit for the whole year is
expected to be better than last year's disregarding the non-recurring items.
Grain Trading's net sales are expected to be around EUR 100 million and the
financial performance slightly better than last year.

Consolidated net sales will exceed EUR 400 million, but be lower than last year's
because of the absence of sugar sales. The operating profit for the entire year
disregarding the non-recurring items is expected to be somewhat better than last
year's equivalent figure because of the fish operations' better financial
performance, productivity measures and improved cost-effectiveness

Net sales in the second quarter are expected to be similar to those of the first.
The financial performance is expected to be on the same level as that in the
second quarter of last year disregarding the non-recurring items.


CONSOLIDATED INCOME STATEMENT
EUR million
1-3/ 1-3/ 1-12/
2006 2005 2005
3 mths 3 mths 12 mths

Net sales 97.0 94.0 433.0
Other operating income 0.6 0.6 10.9
Operating expenses -96.0 -93.4 -416.3
Depreciation -2.1 -2.1 -8.3
Impairments - -2.7 -3.0
Operating profit/loss -0.5 -3.6 16.3

Financial income and expenses 2.0 -0.3 -1.2
Share of profit of associate
companies -0.4 -0.5 -0.1

Profit/loss before taxes 1.1 -4.4 14.9

Income taxes -0.6 1.0 -3.5
Profit/loss for the
financial period 0.4 -3.4 11.4

The income taxes are based on the result for the period.

Attributable to:
Equity holders of the parent 0.2 -3.1 11.3
Minority interests 0.2 -0.3 0.1

Earnings per share, EUR 0.03 -0.49 1.81
Diluted earnings per share, EUR 0.03 -0.49 1.81


NET SALES BY BUSINESS SEGMENT
EUR million
1-3/ 1-3/ 1-12/
2006 2005 2005
3 mths 3 mths 12 mths

Food Division 26.2 32.0 149.5
Feed segment 52.9 44.0 205.1
Grain Trading segment 21.5 19.7 86.6
Other operations segment 0.0 1.8 7.1
Intra-group sales -3.6 -3.5 -15.3
Consolidated 97.0 94.0 433.0


OPERATING PROFIT/LOSS BY BUSINESS SEGMENT
EUR million
1-3/ 1-3/ 1-12/
2006 2005 2005
3 mths 3 mths 12 mths

Food Division -0.5 -1.1 9.6
Feed segment 1.5 -1.5 9.4
Grain Trading segment 0.4 0.1 1.4
Other operations segment -1.9 -1.0 -4.1
Consolidated -0.5 -3.6 16.3


NET SALES BY GEOGRAPHICAL SEGMENT
EUR million
1-3/ 1-3/ 1-12/
2006 2005 2005
3 mths 3 mths 12 mths

Finland 82.2 83.2 382.8
Other EU member states 11.1 7.6 34.2
Other countries 3.7 3.2 16.0
Consolidated 97.0 94.0 433.0


CONSOLIDATED BALANCE SHEET
EUR million
March 31,2006 March 31,2005 Dec. 31,2005

ASSETS
Non-current assets
Tangible assets 71.6 66.2 72.2
Goodwill 17.4 17.4 17.4
Other intangible assets 1.6 2.3 1.7
Investment in associated companies 20.9 23.0 21.3
Available-for-sale investments 0.3 3.0 3.2
Receivables 7.0 - 6.9
Deferred tax assets 1.2 3.0 1.3
120.0 114.9 123.9

Current assets
Inventories 45.0 47.8 54.5
Receivables 31.9 31.5 42.5
Financial assets at fair value
through profit or loss - 0.5 -
Cash and cash equivalents 14.7 11.0 11.2
91.6 90.8 108.2

Total assets 211.6 205.7 232.2


EQUITY AND LIABILITIES
Equity attributable to the
equity holders of the parent 106.8 97.3 112.4

Minority interests 3.9 2.2 3.7

Total equity 110.7 99.5 116.1

Non-current liabilities
Long-term borrowings 14.0 23.0 16.0
Deferred tax liabilities 6.9 7.0 7.4
Non-current provisions 0.9 1.0 0.9
Non-current liabilities total 21.8 31.0 24.3

Current liabilities
Trade payables and other
liabilities 50.2 49.0 60.9
Short-term borrowings 27.9 25.2 29.9
Current provisions 0.9 1.0 0.9
Current liabilities total 79.0 75.2 91.7

Liabilities total 100.9 106.2 116.1

Total equity and liabilities 211.6 205.7 232.2


CONSOLIDATED CASH FLOW STATEMENT
EUR million
1-3/2006 1-3/2005 1-12/2005
3 mths 3 mths 12 mths

Cash flows from operating
activities 4.7 4.2 17.8
Cash flows from investing
activities 2.7 -0.7 -8.0
Cash flows from financing
activities
Change in net debt -4.0 -2.2 -4.5
Dividends paid - - -4.1
Net increase/decrease in cash
and cash equivalents 3.5 1.3 1.0
Cash and cash equivalents
at beginning of the period 11.2 10.2 10.2
Cash and cash equivalents
at end of the period 14.7 11.5 11.2


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
EUR million

A = Share capital
B = Share premium account
C = Net unrealised gains
D = Other reserves
E = Translation differences
F = Retained earnings
G = Equity attributable to equity holders of the parent company
H = Minority interest
I = Shareholders' equity total


A B C D E F G H I
Shareholders'
equity at
Jan 1., 2005 12.6 23.4 1.1 7.3 -0.3 60.2 104.3 2.5 106.8

Available-for-sale
financial assets:
gains/losses
from fair value
measurement 0.1 0.1 0.1
Taxes related to
items entered into
equity and removed
from equity -
Translation
differences 0.1 0.1 0.1
Dividend
distribution -4.1 -4.1 -4.1
Result of the
period -3.1 -3.1 -0.3 -3.4
Shareholders'
equity at
March 31,2005 12.6 23.4 1.2 7.3 -0.2 53.1 97.3 2.2 99.5

Shareholders'
equity at
Jan 1,2006 12.6 23.4 1.8 7.3 -0.2 67.5 112.4 3.7 116.1

Available-for-sale
financial assets:
gains/losses
from fair value
measurement -2.1 -2.1 -2.1
Cash flow hedges:
gains/losses
recorded in
equity 0.7 0.7 0.7
Taxes related to
items entered into
equity and removed
from equity 0.4 0.4 0.4
Transition
differences
Dividend
distribution -4.6 -4.6 -4.6
Result of the period 0.2 0.2 0.2 0.4

Shareholders'
equity at
March 31, 2006 12.6 23.4 0.8 7.3 -0.2 63.0 106.8 3.9 110.7


KEY INDICATORS
March 31, 2006 March 31, 2005 Dec 31, 2005

Shareholders' equity
per share, EUR 17.71 15.90 18.56
Equity ratio, % 52.4 % 48.4 % 50.0 %
Investments, EUR million 1.2 0.3 11.7
Average number of personnel 956 974 1033
Average number of shares, 1 000 6 253 6 253 6 253


CONTINGENT LIABILITIES
EUR million
March 31, 2006 March 31, 2005 Dec 31, 2005

Mortgages given for debts:
Real estate mortgages 40.7 35.1 40.7
Corporate mortgages 51.4 51.4 51.4
Share pledged 3.6 3.6 3.6

Other securities given for own
commitments
Real estate mortgages 0.0 0.1 0.1
Pledges 0.0 0.0 0.0

Leasing liabilities 1.3 0.8 1.3

Non-cancellable other leases,
minimum lease payments 2.0 1.7 2.1

Contingent liabilities for own
commitments:
Repurchasing commitments 0.1 0.2 0.1

Contingent liabilities on behalf
of the associate companies:
Repurchasing commitments 0.1 0.2 0.1

Other contingent liabilities:
Redemption liability of
leased buildings - 2.5 -


OUTSTANDING VALUES OF DERIVATIVE INSTRUMENTS

Forward currency contracts 0.6 2.0 1.5
Commodity derivative instruments 3.4 4.0 5.0
Interest rate swaps 25.0 25.0 25.0


LÄNNEN TEHTAAT PLC
Board of Directors

More details: Matti Karppinen, CEO, tel. +358 10 402 00

Distribution:
Helsinki Stock Exchange
Main media
www.lannen.fi






13.04.2006 MILDOLA OY WHOLLY OWNED BY SUOMEN REHU
LÄNNEN TEHTAAT PLC RELEASE April 13,2006 at 2.45 pm
MILDOLA OY WHOLLY OWNED BY SUOMEN REHU

Suomen Rehu Ltd, part of the Lännen Tehtaat Group, has today acquired the 17.5
per cent of Mildola Oy shares held by Maatalouskesko Oy. This means that Mildola
Oy is now wholly owned by Suomen Rehu Ltd. Mildola Oy became part of the Lännen
Tehtaat Group at the start of May 2005, when Suomen Rehu increased its holding in
Mildola from 17.5 to 82.5 per cent.

Mildola Oy is Finland's leading rapeseed crushing company. It markets vegetable
oils within the European Union and protein feeds on the Finnish market. Its
vegetable oil customers consist of companies in the food industry, the catering
sector and the retail trade.

In 2005, Mildola's net turnover was EUR 40.8 million, of which two thirds was
accounted for by the domestic market and one third by exports. The company is
based at Kantvik in Kirkkonummi, west of Helsinki, and it employs 36 people.

LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO

More information:
Matti Karppinen, CEO, tel. +358 10 402 4001

Distribution:
Helsinki Stock Exchange
Principal media
www.lannen.fi
10.04.2006 Organization of the Supervisory Board and election of the Board of Directors
LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE April 10, 2006 at 5;00 p.m.

ORGANIZATION OF THE SUPERVISORY BOARD AND ELECTION OF THE BOARD OF DIRECTORS

The Supervisory Board of Lännen Tehtaat plc on April 10, 2006 re-elected Tom
Liljeström as Chairman of the Supervisory Board and Juha Nevavuori as Vice
Chairman of the Supervisory Board.

Harri Eela, Aappo Kontu, Matti Lappalainen, Simo Palokangas, Hannu Simula, Soili
Suonoja and Tom v. Weymarn were re-elected as members of the Board of Directors.
Tom v. Weymarn was re-elected as Chairman of the Board and Hannu Simula as Vice
Chairman of the Board.


LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO

More details: Matti Karppinen, tel. +358 10 402 00


Distribution:
Helsinki Stock Exchange
Main media
www.lannen.fi

10.04.2006 Lännen Tehtaat plans to launch ethanol production
LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE April 10, 2006 at 12;00

Lännen Tehtaat plans to launch ethanol production

Lännen Tehtaat has conducted a feasibility study on the launching of ethanol
production in western or south-western Finland. The ethanol would be for use
primarily in transportation fuels. The study shows that this part of Finland has
the best potential for producing ethanol for fuel purposes. The region has
sufficient barley-growing farming capacity to supply raw material for an ethanol
plant. The region is also home to one of the two main pig farming areas in
Finland, which is important with regard to utilization of the animal-feed by-
products of an ethanol plant. The region also has a number of animal feed
factories that could use some of the by-products from an ethanol plant as raw
material for their animal feeds. The study shows that it would be possible to
produce ethanol for fuel in Finland on a profitable basis if integrated with the
animal feed industry.

The preliminary plan involves the ethanol plant producing 66 million kilos (83.5
million litres) of ethanol per year. This could generate 100 million kilos of
animal-feed by-products. The tentative cost estimate of the investment is EUR 45
million. The net turnover that could be generated from the ethanol and animal-
feed fractions produced is some EUR 50 million at current prices. The company
would employ about 40 people, and production could be started midway through
2008.

The feasibility study assumes that the production plant is located at Säkylä, on
the Iso-Vimma industrial estate. Such a location would enable use of Lännen
Rehu's drying facilities during processing of the by-products. There is also
sufficient capacity in the area for treatment of the wastewater from the ethanol
plant. The presence of the sugar mill there would also allow any sugar in excess
of the quota to be processed for ethanol. Convenient raw material storage
facilities are available in the region at Kokemäki, Rauma and Loimaa, and grain
traders in the Satakunta region also have significant storage facilities.

Important factors for the location of the ethanol plant are the availability of
raw material (barley), transport costs, sale of animal-feed components, and
transport distances from the plant to livestock farms. Säkylä is a favourable
location in view of all these factors. Shipping is important for ethanol
deliveries, and Rauma port is sufficiently close to Säkylä to ensure competitive
sea transport.

Following the preliminary studies, Lännen Tehtaat has decided to conduct an
environmental impact assessment (EIA) for the factory investment in Säkylä, which
is required in order for the ethanol plant to be built. An environmental permit
cannot be obtained without completing the EIA procedure. It is estimated that the
procedure would take no more than one year to complete. Lännen Tehtaat has also
decided to apply to the Ministry of Trade and Industry for investment subsidy
intended for energy investments.

So far, no decisions have been taken in Finland concerning the subsidizing of
biofuel production through tax relief or concerning the mandatory use of biofuel
through the required addition of a biologically produced component in
transportation fuels. It is a prerequisite for this investment that sufficient
long-term provision is enacted by law for domestic consumption of ethanol in
transportation fuels.

The profitability of ethanol production is primarily dependent on the price of
ethanol, which is determined on the global market. Domestic supply and demand do
not play a critical role in determining ethanol prices. Naturally, the value of a
product is highest when it can be consumed where it is produced. The price of
ethanol has risen sharply over the past year.

Ethanol production in Finland can only be profitable if it uses domestic raw
materials. The capacity of Finnish agriculture to respond to the demand for
barley is limited. We estimate that 250,000 tonnes of barley can be acquired for
ethanol production without the increased demand causing significant pressures on
raw material prices. If the production of barley-based ethanol were to increase
significantly from that which is now planned, the increased demand would raise
the price of barley and undermine the profitability of ethanol production.

The plan is to set up a new limited company to handle the ethanol production. The
project could be implemented by Lännen Tehtaat alone or in cooperation with
partners. Locations other than Säkylä can be considered if some other location
proves to be more advantageous in the final analysis. Negotiations with eventual
partners could be entered into once the plans have been finalized in autumn 2006.


LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO

More information: Matti Karppinen, CEO, tel. +358 10 402 00

Distribution:
Helsinki Stock Exchange
Principal media
www.lannen.fi



31.03.2006 HARVIALA LTD SOLD TO SAARIOISTEN TAIMISTOT OY
Lännen Tehtaat plc Press release March 31, 2006 at 8.30 a.m.

HARVIALA LTD SOLD TO SAARIOISTEN TAIMISTOT OY

Lännen Tehtaat plc has sold the entire shareholding in the subsidiary Harviala
Ltd to Saarioisten Taimistot Oy. The parties have agreed that the transaction
price will not be made public.

Harviala Ltd focuses on producing leaves trees and conifers. The company's net
turnover for 2005 was EUR 3.1 million and it employed an average of 30 people.

Saarioisten Taimistot Oy focuses on growing shrubs. The product ranges of
Saarioisten Taimistot Oy and Harviala Ltd will complement each other and
strengthen the production of ornamental plants in Finland. The companies offer
operators in the sector all the trees and shrubs product categories required for
landscaping. The companies will continue their operations as separate corporate
entities. Kaisu Avotie will remain the managing director of Saarioisten Talmistot
Oy and Marjatta Nummela will continue as the managing director of Harviala Ltd.

The combined net turnover of the two companies will be about EUR 4.5 million.
Their permanent staff will number more than 30, and a further 50 to 60 will be
employed in a seasonal capacity.

Lännen Tehtaat plc will record a loss of about EUR 0.6 million in the transaction
against the profit in the first quarter of the 2006.

LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO


More information:
Matti Karppinen, CEO, tel. +358 10 402 00 or
Kaisu Avotie, Managing Director, tel. +358 40 842 2302


Distribution:
Helsinki Stock Exchange
Main media
www.lannen.fi
29.03.2006 LÄNNEN TEHTAAT PLC ANNUAL GENERAL MEETING
LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE MARCH 29, 2006 at 3;45 p.m.

LÄNNEN TEHTAAT PLC ANNUAL GENERAL MEETING

The Annual General Meeting on March 29, 2006 approved the financial statements,
discharged those accountable from liability and decided to distribute a dividend
of EUR 0.73 per share.

MATTERS DEALT WITH BY THE ANNUAL GENERAL MEETING

FINANCIAL STATEMENTS
The Annual General Meeting approved the Company's and the Group's profit and loss
accounts and balance sheets, and discharged the members of the Board of
Directors, the members of the Supervisory Board and the President from liability
for the financial year 2005.

The Annual General Meeting decided to distribute as dividend EUR 0.73 per share.
The record date is April 3, 2006 and the dividend payment date April 10, 2006.

ELECTION OF THE MEMBERS OF THE SUPERVISORY BOARD AND THE AUDITORS
Matti Eskola, Pasi Jaakkola, Jouni Kaitila, Markku Länninki and Ilkka Markkula
were re-elected to the Supervisroy Board.

Hannu Pellinen, Authorized Public Accountant, and PricewaterCoopers Oy
Authorized Public Accountants with Jari Henttula, Authorized Public Accountant as
responsible auditor, were re-elected as auditors.

RAISING THE SHARE CAPITAL
The Annual General Meeting decided to authorize the Board of Directors to raise
share capital by new share issues and/or to issue a convertible bond in one or
more instalments. The authorization is valid one year, starting from the date of
the AGM decision. In a new share issue and/or an issue through a convertible
bond, the share capital can be raised by a maximum total of EUR 1,263,514 in such
a way that a maximum of 631,757 shares with a nominal value of EUR 2.00 are
offered for subscription.

The Board of Directors was authorized to diverge from the shareholders' pre-
emptive subscription right to new shares and/or to
convertible bonds if the company's financial status so requires. The
authorization also covers the right to decide on the subscription prices, those
entitled to subscribe shares, subscription terms, terms concerning a convertible
bond and other terms and aspects related to a new share issue and/or issue of a
convertible bond.

SURRENDERING THE COMPANY'S OWN SHARES
The Annual General Meeting decided to authorize the Board of Directors to decide
to surrender the company's own shares. The authorization concerns the 65,000
company shares acquired using the authorization granted by the AGM on April 5,
2001. The Board is authorized to decide to whom and in what order the company's
own shares are surrendered. The shares can be surrendered in one or more
tranches. The Board may decide to surrender the Company's own shares otherwise
than in proportion to the pre-emptive right of shareholders.

The shares can be surrendered in one or more tranches, as decided by the Board,
in connection with corporate acquisitions or other corporate arrangements or for
some other similar purpose that the Board may consider suitable. Surrender of the
shares can also be carried out via public trading on Helsinki Exchanges.

The share price is the current value at the time of surrender, determined in
public trading on Helsinki Stock Exchange. The shares may also be surrendered
against other than monetary consideration. The authorization is valid for one
year, starting from the date of the AGM decision.


LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO


More details: Matti karppinen, tel. +358 10 402 4001

Distribution:
Helsinki Stock Exchange
Main media
www.lannen.fi
22.03.2006 FIRST ACTION FOR THE JOINT VENTURE OF LÄNNEN TEHTAAT AND RAISIO IN RUSSIA
Lännen Tehtaat plc Press Release March 22, 2006 at 1;15 p.m.

FIRST ACTION FOR THE JOINT VENTURE OF LÄNNEN TEHTAAT AND RAISIO IN RUSSIA


ZAO Scandic Feed, the fifty-fifty owned joint venture of Lännen Tehtaat and
Raisio, has acquired the control of ZAO Tosno Feed Factory specialized in feed
production and marketing. The factory is located in Tosno town near St.
Petersburg. The parties of the deal have agreed not to publish the acquisition
price.

Scandic Feed will develop the business of Tosno Feed Factory by exploiting the
know-how of Lännen Tehtaat and Raisio e.g. in raw material supply and feed R&D in
order to create customer oriented feeding concepts. Scandic Feed will also
develop Tosno's product portfolio. In Northwest Russia, the joint venture aims to
have a significant market position in the next five years.

ZAO Tosno Feed Factory was established in 1975 and privatized in 1992. The
company produces farm feeds. The production capacity can be tripled without any
major additional investments.

Main part of the production, almost two thirds, is poultry feed, rest being pig,
livestock and other feeds. The turnover of the company was EUR about 10 million
in 2005 and the result slightly positive.

The acquired company has a good logistical location in the Northwest Russian feed
market. The operating area of the company is volume wise almost the same size as
the Finnish feed market. At present, the main part of the production is
distributed to the neighbouring areas of St.Petersburg.

Final closing of the deal is subject to the clearance of the competition
authorities in Russia.

Mrs Kaija Viljanen has been appointed Managing Director of ZAO Scandic Feed. Mrs
Viljanen continues also as the Managing Director of Avena Nordic Grain Oy.


LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO


Further information:
Kaija Viljanen
Managing Director, Scandic Feed
tel. +358 10 402 2510 or +358 40 501 2814


Distribution:

Helsinki Stock Exchange

Principal media

www.lannen.fi
22.03.2006 LÄNNEN TEHTAAT ANNUAL REPORT 2005 PUBLISHED
LÄNNEN TEHTAAT PLC Stock exchange announcement March 22, 2006

LÄNNEN TEHTAAT ANNUAL REPORT 2005 PUBLISHED

Lännen Tehtaat Annual Report for 2005 with financial statements has been
published today in Finnish and English.

The Annual Report can also be read at www.lannen.fi/en/investor_information. A
printed version of the Annual Report can be ordered by telephone +358 10 402 00
or by e-mail .

LÄNNEN TEHTAAT PLC

Riitta Jaakkola
Director of Finance
tel +358 10 402 4020


DISTRIBUTION
Helsinki Exchanges

07.03.2006 FIRST QUARTER RESULTS WILL INCLUDE EUR 2.4 MILLION OF GAINS ON SALES OF SHARES
Lännen Tehtaat plc Stock Exchange Release March 7, 2006 at 11;00 a.m.

FIRST QUARTER RESULTS WILL INCLUDE EUR 2.4 MILLION OF GAINS ON SALES OF SHARES

Lännen Tehtaat plc has sold the investments it held in shares of other listed
companies. These share transactions are part of Lännen Tehtaat's strategy of
relinquishing assets that are not part of its core business. A sales profit
totalling EUR 2.4 million was realized from the sales. The transactions will
increase earnings per share in the first quarter by approximately EUR 0.28.

LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO

More information: Matti Karppinen, CEO, tel. +358 10 402 00

Distribution:
Helsinki Stock Exchange
Principal media
www.lannen.fi


03.03.2006 SUMMONS TO ANNUAL GENERAL MEETING OF LÄNNEN TEHTAAT PLC
LÄNNEN TEHTAAT PLC STOCK EXCHANGE ANNOUNCEMENT March 3, 2006

SUMMONS TO ANNUAL GENERAL MEETING OF LÄNNEN TEHTAAT PLC

Company shareholders are hereby invited to the Annual General Meeting, which will
be held on Wednesday, March 29, 2006, starting at 2:00 p.m. in the Lännen Tehtaat
staff restaurant in Iso-Vimma, Säkylä.

The AGM will deal with the following:

1. Items to be dealt with by the AGM under section 11 of the Articles of
Association.

2. A Board of Directors proposal that the Board be authorized to decide to
raise the share capital in one or more new share issues and/or to issue a
convertible bond in one or more instalments. In a new share issue and/or an
issue through a convertible bond, the share capital can be raised by a
maximum of EUR 1,263,514 or by a smaller amount in such a way that a maximum
of 631,757 shares with a nominal value of EUR 2.00 are offered for
subscription. The authorization also covers the right in targeted issues to
diverge from the shareholders' pre-emptive subscription right, and to decide
on the subscription prices and terms, and other terms and aspects related to
a new share issue. The authorization is valid for one year, starting from
the date of the AGM decision.

3. A Board of Directors proposal that the Board be authorized to decide to
surrender the company's own shares, diverging from the shareholders' pre-
emptive subscription right. The authorization concerns the 65,000 company
shares acquired using the authorization granted by the AGM on April 5, 2001.
The Board is authorized to decide to whom and in what order the company's
own shares are surrendered. The shares can be surrendered in one or more
tranches, as decided by the Board, in connection with corporate acquisitions
or other corporate arrangements or for some other similar purpose that the
Board may consider suitable. Surrender of the shares can also be carried out
via public trading on Helsinki Stock Exchange. The share price is the
current value at the time of surrender, determined in public trading on
Helsinki Stock Exchange. The shares may also be surrendered against other
than monetary consideration. The Board may not make a decision on divergence
from pre-emptive subscription rights that benefits members of the inner
circle of the company. The authorization is valid for one year, starting
from the date of the AGM decision.

Distribution of dividend
The Board of Directors proposes to the Annual General Meeting that a dividend of
EUR 0.73 per share be paid for the financial year 2005. Dividend will be paid to
shareholders whose shares are registered by the Finnish Central Securities
Depository Ltd, not later than the record date, April 3, 2006. The dividend will
be paid on April 10, 2006.

Right to attend the Annual General Meeting
A shareholder whose shares have been registered in the register of shareholders
maintained by the Finnish Central Securities Depository Ltd not later than March
17, 2006 has the right to attend the Annual General Meeting.

A shareholder who was entered in the company's share register prior to 20 May
1995 also has the right to attend the Annual General Meeting. In these
circumstances, the shareholder must at the Annual General Meeting present his
share certificates or some other evidence that the right of ownership to the
shares has not been entered into a book-entry account.

Notification of intended participation at the Annual General Meeting must be
given to the company not later than March 27, 2006 before 4:00 p.m. local time
either by writing to Lännen Tehtaat plc, P.O Box. 100, FI-27801 Säkylä, or by
telefax +358 10 402 4022 or by phoning +358 10 402 4002/Arja Antikainen or by e-
mail . If notice is given by letter, this should arrive
before the above mentioned time. Possible proxies should be forwarded to the
company within the same time.

Documents
The financial statement documents and other documents required under the
Companies Act can be inspected during the week before the shareholders' meeting
at the company's head office, Lännen Tehtaat plc, Maakunnantie 4, 27820 Säkylä.
Copies of documents will be sent to shareholders on request.

Säkylä, February 20, 2006

LÄNNEN TEHTAAT PLC
Board of Directors

Distribution:
Helsinki Stock Exchange
www.lannen.fi


23.02.2006 BOARD PROPOSALS TO LÄNNEN TEHTAAT ANNUAL GENERAL MEETING
LÄNNEN TEHTAAT PLC Stock Exchange Release February 23, 2006 9;00 a.m.

BOARD PROPOSALS TO LÄNNEN TEHTAAT ANNUAL GENERAL MEETING

I DIVIDEND

The Board of Directors proposes to the Annual General Meeting that a dividend of
EUR 0.73 per share be paid for the financial year 2005.


II AUTHORIZATION TO INCREASE SHARE CAPITAL

The Board of Directors proposes to the Annual General Meeting that the Company's
Board of Directors be authorized, in derogation from the shareholders' pre-
emptive right to subscribe, to decide on increasing the share capital by one or
more new issues and/or taking out a convertible loan in one or more tranches on
the following conditions:

1. The new issue and/or new issue based on the convertible loan will allow the
share capital to be increased by a maximum of EUR 1,263,514 or an amount smaller
than this, which corresponds, taking into account existing unused authorizations,
to no more than one tenth of the company's share capital registered at the time
of the AGM authorization decision and the Board of Directors' decision to make
the increase, and of the combined voting rights of the shares so that a maximum
of 631,757 shares will be put up for subscription at a nominal value of EUR 2 per
share.

2. The authorization covers the right in targeted issues to disregard the
shareholders' pre-emptive right to subscribe new shares and/or convertible loans
on condition that the company has a pressing financial reason to do so, and the
right to decide on the new issue so that the shares can be subscribed against
property given as a subscription in kind or otherwise under certain conditions or
by using the right of set-off.

The authorization can be used, for example, for implementing a corporate
acquisition, some other development of the company's business operations,
broadening the ownership base or strengthening the capital structure or for
similar purposes.

3. The authorization also covers the right to decide on those who are entitled to
subscribe, the subscription prices and terms and conditions, the terms and
conditions of the convertible loan and other terms and conditions and matters
associated with the new issue and/or taking out the convertible loan. The Board
of Directors is not permitted to make a decision about derogating from the pre-
emptive right to subscribe if this would be for the benefit of a person belonging
to the inner circle of the Company.

4. The authorization is valid for one year from the decision of the AGM.


III AUTHORIZATION FOR SURRENDER OF OWN SHARES

The Board of Directors will propose to the Annual General Meeting that the Board
be authorized to surrender the company's own shares in derogation from the
shareholders' prior subscription right.

1. The authorization concerns the 65,000 company shares acquired for the company
under authorization of the AGM on April 5, 2001.

2. The Board of Directors will be authorized to decide to whom and in what order
company shares will be surrendered. The shares can be surrendered in one or more
lots. The Board can decide on surrender of its own shares otherwise than in the
pre-emptive right of shareholders to acquire company's own shares.

3. The shares can be surrendered in one or more lots as decided by the Board in
connection with corporate transactions or other arrangements, or for some other
similar purpose that the Board considers practicable.

The shares can also be sold in public trading on the Helsinki Stock Exchange.

4. Shares will be surrendered at their current value at the time of surrender,
determined in public trading on the Helsinki Stock Exchange. They can also be
surrendered against other than monetary consideration.

5. The authorization is valid for one year from the AGM decision.

Justification for divergence from right of pre-emption;

When shares are surrendered, the Board can decide to diverge from the
shareholders' right of pre-emption within the limits laid down in the Companies
Act if there is some weighty financial reason for so doing on the company's part.
The shares can also be surrendered through public trading, when all would have an
equal right to purchase them.


LÄNNEN TEHTAAT PLC
Board of Directors


More details: Matti Karppinen, CEO, tel. +358 10 402 00

Distribution:
Helsinki Stock Exchange
Main media
www.lannen.fi
21.02.2006 FINANCIAL STATEMENTS INFORMATION January 1 - December 31, 2005
LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE February 21, 2006, 8;30 a.m

FINANCIAL STATEMENTS INFORMATION January 1 - December 31, 2005

FINANCIAL YEAR 2005
. The net turnover for the Group came to EUR 433.0 (2004; 473.8) million.
. The operating profit came to EUR 16.3 (11.4) million and the profit before
taxes to EUR 14.9 (12.6) million.
. The earnings per share were EUR 1.81 (1.68).
. The Board's proposal to the Annual General Meeting will be EUR 0.73 (0.65) per
share.

. The net turnover for continuing business operations came to EUR 433.0 (424.9)
million.
. The operating profit for continuing business operations came to EUR 16.3 (14.7)
million and the profit before taxes to EUR 14.9 (16.3) million.


This financial statements information has been drawn up in line with IFRS
bookkeeping and valuation principles. The data in this report have not been
audited.


FOURTH QUARTER 2005
. The net turnover for the Group in October-December came to EUR 122.5 (112.4)
million.
. The operating profit came to EUR 12.6 (6.7) million and the profit before taxes
to EUR 12.8 (8.9) million.
. The earnings per share were EUR 1.52 (1.36).

. The operating profit before non-recurring items came to EUR 6.2 (6.7) million
and the profit before taxes and non-recurring items to EUR 7.5 (8.9) million.


FINANCIAL YEAR 2005
Key figures illustrating performance, EUR million

Continuing
Discontinued
Group total operations
operations
1-12/05 1-12/04 1-12/05 1-12/04 1-12/05 1-12/04


Net turnover 433.0 473.8 433.0 424.9 - 48.9
Operating profit/loss
before non-recurring items 12.1 13.2 12.1 14.7 - -1.5
Operating profit/loss
after non-recurring items 16.3 11.4 16.3 14.7 - -3.3
Profit/loss before taxes,
before non-recurring items 11.8 14.4 11.8 16.3 - -1.9
Profit/loss before taxes,
after non-recurring items 14.9 12.6 14.9 16.3 - -3.7
Profit/loss after taxes 11.4 10.5 11.4 14.2 - -3.7
Earnings/share, EUR 1.81 1.68 1.81 2.30 -


FOURTH QUARTER 2005
Key figures illustrating performance, EUR million

Continuing
Discontinued
Group total operations
operations
10-12/05 10-12/04 10-12/05 10-12/04 10-12/05 10-12/04


Net turnover 122.5 112.4 122.5 112.4 - -
Operating profit before
non-recurring items 6.2 6.7 6.2 6.7 - -
Operating profit after
non-recurring items 12.6 6.7 12.6 6.7 - -
Profit before taxes,
before non-recurring items 7.5 8.9 7.5 8.9
Profit before taxes,
after non-recurring items 12.8 8.9 12.8 8.9 - -
Profit after taxes 10.0 8.0 10.0 8.0 - -
Profit per share, EUR 1.52 1.38 1.52 1.38




In the fourth quarter, the net turnover for the Food Division totalled EUR 39.0
(2004: 37.9) million, EUR 59.9 (53.0) million for the Feed segment, EUR 26.6
(25.0) million for Grain Trading and EUR 1.8 (2.4) million for Other Operations.
In the Feed segment, the increase originated from acquisitions.

The operating profit of the Food Division for the fourth quarter before non-
recurring items was EUR 2.8 (2.2) million, and after non-recurring items EUR 10.1
(2.2) million. The performance of Apetit Kala showed a favourable trend towards
the end of the year. The company's financial performance for the last quarter was
good and Christmas sales exceeded expectations. Lännen Sugar's operative result
continued to be at the 2004 level. Apetit Frozen Foods and Jams fell short of its
previous year's achievement.

In the Feed segment, the financial performance for the final quarter was weakened
by raw material price increases which could not be transferred to sales prices in
full because of the tough competition. Mildola's favourable profit trend
continued in the last quarter and the segment's operating profit was EUR 3.6
(4.4) million.

Operating profit for Grain Trading was at the same level as in the comparison
period, EUR 0.5 (0.6) million. Operating profit for Other Operations before non-
recurring items came to EUR -0.6 (-0.6) million and after non-recurring items EUR
-1.5 (-0.6) million.

LÄNNEN TEHTAAT PLC
Board of Directors

More information: Matti Karppinen, CEO, tel. +358 10 402 00

Distribution:
Helsinki Stock Exchange
Principal media
www.lannen.fi



BOARD OF DIRECTORS' REPORT 2005
Lännen Tehtaat's vision is to be one of the leading Finnish food companies,
CHANGES IN GROUP STRUCTURE AND ORGANIZATION
The Group structure was given a clearer definition and profit responsibility was
underlined in the last quarter of 2005. The Group administration organization was
streamlined heavily and human resources and information management were moved
closer to the customer interface as part of the Food segment. New key personnel
were recruited for Group management.

At the end of the financial year, the Food Division was organized into two
strategic business units: Apetit Frozen Foods and Jams, and Apetit Kala. Apart
from these, joint operations include marketing, sales, controlling, information
management and human resources management.

Operations by Lännen Sugar, which was a business unit in the Food Division, were
discontinued at the end of 2005, since Sucros Ltd terminated its sales contract
for Dansukker consumer products on December 31, 2005.

The Agricultural Division's companies operate as independent units with their own
product brands. The Division comprises Lännen Tehtaat plc's subsidiaries Suomen
Rehu Oy and Avena Nordic Grain Oy. Suomen Rehu Oy's subsidiaries are Lännen Rehu
Oy, Hiven Oy, Mildola Oy and UAB Baltic Feed. The companies are managed through
internal Board work. The segments reporting to the Agricultural Division are the
Animal Feeds segment, consisting of Suomen Rehu Oy and its subsidiaries and the
Grain Trading segment, which consists of Avena Nordic Grain Oy.

In March, Suomen Rehu Oy acquired 65% of the total stock of Mildola Oy, which
produces vegetable oils and protein feeds. After the transaction Suomen Rehu Oy
owns 82.5 per cent of Mildola Oy's stock. The company has been included in the
consolidated financial statements as of May 1, 2005. Mildola Oy's inoperative
companies Anttilan Koetila Oy and ÖP-Trading Oy were merged with their parent
company at the end of 2005.

In August, Lännen Tehtaat and Raisio set up an equally-owned joint venture
Scandic Feed in Russia. The company's aim is to start producing feeds in
northwestern Russia and win a significant market share there within five years.

In order to develop grain trading in the Baltic region, Avena Nordic Grain Oy
established a subsidiary in Lithuania. UAB Avena Nordic Grain's operations began
in August.

The Other Operations segment comprises Group administration and Harviala Oy.

The business operations of Lännen Plant Systems, which was part of the Other
Operations segment, were sold at the beginning of April. The deal had no
significant impact on Group performance.

NET TURNOVER
The Lännen Tehtaat Group's consolidated net turnover totalled EUR 433.0 (473.8)
million. Net turnover for continuing operations was EUR 424.9 million in the
comparison year. Food accounted for 35% of this figure (31% of continuing
operations) and the Animal Feeds segment 47% (46%). Grain Trading accounted for
17% (21%) and Other Operations for 1% (2%).

The Food Division's net turnover was EUR 149.5 (130.6) million. The increase was
due to the addition of Apetit Kala to the Group at the end of June in 2004. Net
turnover for the fish products business grew as planned. Retail sales of frozen
foods were at the same level as in the comparison year. Sales of frozen foods,
pizzas and frozen potato products grew on 2004. Sales of frozen vegetables fell,
particularly for products sold under own product brand. Retail sales of jams and
marmalades fell, too. Sales to the food industry and to the hotel, restaurant and
catering sector fell short of that in the comparison year as a result of
increased imports. Imports of sugar products for consumer use through the retail
trade from the Baltic States increased, which reduced Lännen Sugar's net
turnover. The good berry and apple crops reduced the expected fall in sugar
sales, however.

Net turnover for the Feeds segment was EUR 205.1 (195.0) million. The comparable
net turnover with the impact of the corporate acquisition eliminated fell by some
5% on the previous year. The fall in sales was primarily due to the impact of
lower raw material prices on sales prices. The merging of Mildola with the Group
caused an increase of EUR 19.5 million in the Feeds segment net turnover in 2005.

Net turnover for Grain Trading was EUR 86.6 (107.2) million. The volume was
reduced in the early part of the year by the previous year's small crops in
Finland. The price level of grains was also lower than in the previous year. In
the latter half of the year, the grain trade from 2005 crops was as planned.

Net turnover for Other Operations was EUR 7.1 (8.8) million. The decrease was due
to the sale of Lännen Plant Systems at the beginning of April.

Net turnover for the parent company Lännen Tehtaat plc was EUR 99.0 (107.5)
million.

PROFITS
The operating profit for Lännen Tehtaat's continuing operations before non-
recurring items came to EUR 12.1 (14.7) million. The impact of non-recurring
items on the operating profit was EUR +4.2 (-) million. The non-recurring items
affecting the operating profit include the write-downs and cost reserves of EUR
3.2 million resulting from the decision to close down Suomen Rehu's factory in
Vaasa and recorded in the Feed segment's result in the first quarter, and the
entry in the profit and loss account of the negative goodwill of EUR 1.1 million
created in the acquisition of Mildola Oy in the second quarter. The Food Division
recorded a non-recurring income item of EUR 7.6 million from the termination of
the sales contract concerning sugar retailing and a EUR 0.3 million reserve for
restructuring expenses in the final quarter. Other Operations reserved EUR 0.7
million for restructuring expenses and EUR 0.3 million for impairment losses.

The operating loss for discontinued operations was EUR 3.3 million in the
comparison period.

The Food Division's operating profit before non-recurring items amounted to EUR
2.3 (4.1) million and EUR 9.6 (4.1) after non-recurring items. The division's
profitability fell short of the target level and the comparison period, primarily
as a result of poor profitability in the fish products business in the early part
of the year. The performance of Frozen Foods and Jams fell slightly on the
comparison year as a result of lower net turnover. Lännen Sugar's operative
performance was at the same level as in 2004.

The operating profit for the Feed segment before non-recurring items was EUR 11.5
(11.7) million and after non-recurring items EUR 9.4 (11.7) million. The merging
of Mildola with the Feed segment improved profitability significantly.

Operating profit by Grain Trading amounted to EUR 1.4 (2.3) million. EUR 0.4 of
the decrease is due to value changes of derivative contracts in the profit and
loss account. Value changes in the derivative contracts taken to hedge the raw
material positions reduced the performance for the early part of the year by EUR
0.2 million and improved the performance of the comparison period 2004 by EUR 0.2
million. As of the beginning of 2005, hedge accounting has been applied to
efficient hedging of purchases and sales under the IAS 39 Standard.

The operating profit before non-recurring items for Other Operations was EUR -3.1
(-3.4) million and after non-recurring items EUR -4.1 (-3.4) million.

Net financial expenses totalled EUR 1.2 (1.5) million. The share of profits of
associated companies was EUR -0.1 (2.7) million. The compensation relating to the
termination of the sugar sales contract between Lännen Tehtaat and Sucros reduced
the share of profits of associated companies by EUR 1.1 million in the final
quarter.

Consolidated profit before taxes and non-recurring items was EUR 11.8 (14.4)
million and after non-recurring items EUR 14.9 (12.6) million. The profit for the
period was EUR 11.4 (10.5) million.

FINANCING AND CASH FLOW
The Group's financial position and liquidity continued to be good. Cash flow from
operations after interest and taxes stood at EUR 17.8 (27.8) million. The
difference between 2005 and 2004 is primarily due to changes in working capital.
The net cash flow from investments was EUR -8.0 (-9.4) million. A total of EUR
4.1 (3.9) million was paid out in dividends.

The Group's interest-bearing liabilities came to a total of EUR 45.9 (46.4)
million and liquid assets to EUR 11.2 (10.2) million at the end of the financial
period. Net interest-bearing liabilities amounted to EUR 34.7 (36.2) million. The
consolidated balance sheet total stood at EUR 232.2 (215.4) million. Equity
totalled EUR 116.1 (106.8) million at the end of the financial period. The equity
ratio was 50.0 (49.6) %. Commercial papers issued for the Group's short-term
financing stood at EUR 19.0 (13.0) million at the end of the review period.
Liquidity is secured with long-term committed credit facilities. No credit
facilities were used during the financial period.

INVESTMENT
Consolidated gross investment in non-current assets came to EUR 7.3 (5.4)
million. Investment excluding corporate acquisitions by the Food Division
totalled EUR 1.4 (2.7) million, by the Feed segment EUR 5.6 (2.1) million, by
Grain Trading EUR 0.0 (0.0) million and by Other Operations EUR 0.3 (0.4)
million. Investment by the Machinium Group in 2004 stood at EUR 0.3 million at
the time it was disengaged from the Group.

The Feed segment's investments were primarily related to improving production and
logistics processes in the Feed segment and to increasing production capacity at
the Feed group's other factories related to the closing down of the Suomen Rehu
factory in Vaasa.

Other consolidated investments in non-current assets concerned productivity and
replacements.

The most significant of the share and corporate acquisitions which totalled EUR
4.4 (5.6) million, was the purchase of a majority holding of Mildola Oy's shares
for EUR 4.1 million in a transaction that took effect at the beginning of May.

ANNUAL GENERAL MEETING, SHARE CAPITAL AND SHARES
The Annual General Meeting on March 31, 2005 decided to distribute a dividend of
EUR 0.65 per share.

The Annual General Meeting decided to authorize the Board of Directors to raise
share capital by new share issues and/or to issue a convertible bond in one or
more instalments. The authorization is valid one year, starting from the date of
the AGM decision. In a new share issue and/or an issue through a convertible
bond, the share capital can be raised by a maximum total of EUR 1,263,514 in such
a way that a maximum of 631,757 shares with a nominal value of EUR 2.00 are
offered for subscription.

The Board of Directors was authorized to diverge from the shareholders' pre-
emptive subscription right to new shares and/or to convertible bonds if the
company's financial status so requires. The authorization also covers the right
to decide on the subscription prices, those entitled to subscribe shares,
subscription terms, terms concerning a convertible bond and other terms and
aspects related to a new share issue and/or issue of a convertible bond.

So far the Board has not exercised its right to raise share capital by issuing
new shares or a convertible bond.

The Annual General Meeting decided to authorize the Board of Directors to decide
to surrender the company's own shares. The authorization concerns the 65,000
company shares acquired using the authorization granted by the AGM on April 5,
2001. The Board is authorized to decide to whom and in what order the company's
own shares are surrendered. The shares can be surrendered in one or more
tranches. The Board may decide to surrender the Company's own shares otherwise
than in proportion to the pre-emptive right of shareholders.

The shares can be surrendered in one or more tranches, as decided by the Board,
in connection with corporate acquisitions or other corporate arrangements or for
some other similar purpose that the Board may consider suitable. Surrender of the
shares can also be carried out via public trading on Helsinki Exchanges. The
share price is the current value at the time of surrender, determined in public
trading on Helsinki Stock Exchange. The shares may also be surrendered against
other than monetary consideration. The authorization is valid for one year,
starting from the date of the AGM decision.

The Board has not yet made use of the authorization. The 65,000 Lännen Tehtaat
plc shares in the company's possession represent 1.0% of the total share capital
and total votes.

Flagging notices
Tapiola General Mutual Insurance Company and Tapiola Mutual Life Assurance
Company, whose shareholdings are calculated together under the flagging
regulations, announced on February 18, 2005 a change in their shareholding on
February 17, 2005. They now hold 4.37% of Lännen Tehtaat plc's total share
capital and total votes.

Raisio plc announced on September 14, 2005 that its holding in Lännen Tehtaat
plc's share capital and voting rights had fallen below 5% on September 14, 2005.
After the change, neither Raisio plc nor any organization or foundation
controlled by Raisio plc owns Lännen Tehtaat plc's shares.

ODIN Forvaltning AS announced on September 15, 2005 that the proportion of its
holding in Lännen Tehtaat plc's share capital and voting rights had risen to
5.18%.

Share Trading
In the period under review, 3,768,866 (1,778,558) company shares were traded on
the Stock Exchange, i.e. 59.7% (28.6%) of the total stock. The highest share
price was EUR 18.29 (14.50) and the lowest EUR 11.71 (11.00). Share turnover
totalled EUR 54.0 (22.4) million. The price at the end of the year was EUR 18.00
(12.05).

IFRS REPORTING
Lännen Tehtaat's consolidated financial statements have been drawn up in
accordance with the International Financial Reporting Standards (IFRS) adopted by
the European Union. The Group transferred to IFRS reporting at the beginning of
2005. The transition was reported in a separate information bulletin issued on
April 27, 2005.

SEASONALALITY OF OPERATIONS
The transition to IFRS reporting has had a noticeable impact on the accrual of
Lännen Tehtaat's profits over the financial year.

In accordance with the IAS 2 standard, the historical cost of inventories
includes a systematically allocated portion of the fixed production overheads. In
production that focuses on seasonal crops, raw materials are processed into
finished products mainly during the year's final quarter, which means that the
inventory volumes and their balance-sheet values are at their highest at the end
of the year. As entering as an expense of the fixed production overheads included
in the historical cost is deferred until the time of sale, most of the Group's
annual profit is accrued in the final quarter. The seasonal nature of operations
features most strongly in the Food Division and in the associated company Sucros,
which is part of that division. There is also some seasonal fluctuation in the
Feed segment. Apetit Kala's sales depend largely on seasonal holidays, such as
Christmas. A major proportion of the entire year's profit depends on the success
of Christmas sales.

R&D
The Group's product development expenses were 0.7% (0.6%) of net turnover.

In food products, the development focus was on ready-made frozen foods and fish
products. A new series of Apetit casseroles and a series of Grilled Fish products
were launched, and new products were added to the Quick & Tasty microwave range.

In animal feeding solutions, the emphasis in 2005 was on the development of
feeding that advances intestinal health and the wellbeing of young animals.

RISKS AND UNCERTAINTIES
The Group companies and the business units regularly assess the risks involved in
their operations and the adequacy of the control methods needed. The purpose of
these risk assessments, which support strategy work and decision-making, is to
ensure sufficient action to control risks.

No significant individual risks have come up in the Group's risk assessments that
would call for special action in addition to measures falling within normal
business operations and defined in the risk management process.

The European Union new sugar regime has a negative impact on the operating
conditions in this sector in Finland. Sucros Ltd has decided to start co-
determination talks concerning reductions in personnel relating to the closing
down of the factory in Salo. The factory in Säkylä will continue for the time
being. The sugar regime reform and the consequent changes will reduce the
dividends received by Lännen Tehtaat from Sucros Ltd in future years and the
share of profit to be entered in the profit and loss account.

Lännen Tehtaat plc owns 20% of the stock of Sucros Ltd, which engages in sugar
production in Finland. The company has sugar beet factories in Salo and Säkylä, a
glucose syrup factory in Jokioinen and a factory that refines raw sugar in
Kantvik.

ENVIRONMENAL RESPONSIBILITY
Lännen Tehtaat's operations are guided by the principles of continuous
improvement and sustainable development. The company is a responsible operator,
taking into account the requirements of both society and the environment.

The management of Lännen Tehtaat has set environmental objectives for the company
in its operating policy.

The company is not aware of any significant individual risks relating to the
environment at the time of closing the accounts.

CORPORATE GOVERNANCE, MANAGEMENT AND PERSONNEL
The Supervisory Board of Lännen Tehtaat plc elected the following Board members
at a meeting on June 16, 2005: Tom von Weymarn, Hannu Simula, Harri Eela, Aappo
Kontu, Matti Lappalainen and Soili Suonoja. Tom von Weymarn was elected Chairman
of the Board and Hannu Simula Vice Chairman. In a meeting held on October 31,
2005 the Supervisory Board elected Simo Palokangas member of the Board as of
April 1, 2006.

The CEO of Lännen Tehtaat plc was Erkki Lepistö up to August 31, 2005. Matti
Karppinen was elected CEO and started in office on September 1, 2005.

The Chairman of the Supervisory Board is Tom Liljeström and the Deputy chairman
is Juha Nevavuori.

The Group employed an average of 1,033 (1,072) people in 2005. At the end of the
year the head count was 1,115 (1,077), an increase of 38, when Mildola Oy was
merged with the Group at the beginning of May. The sale of Lännen Plant Systems
reduced the number by 24 employees.

PROPOSED DIVIDEND
The goal of the Lännen Tehtaat Board of Directors is to ensure that an investment
in the company's shares produces a good yield and stable value. In accordance
with its dividend distribution policy, the company distributes dividends worth at
least 40 per cent of the profit for the financial year to the owners of the
parent company. The Board proposes to the Annual General Meeting that a dividend
of EUR 0.73 (0.65) be paid per share, i.e. 40 (39) % of the yield per share.

OUTLOOK FOR 2006
The Food Division's net turnover and profit will be reduced by the termination of
the sales contract between Lännen Tehtaat and Sucros Ltd on December 31, 2005.
Sugar retailing will be handled by Sucros Ltd as of January 1, 2006. The impact
of the discontinuation of sugar sales will be some EUR 45 million on the Food
Division's net turnover and some EUR 2 million on operating profit. Sales of
frozen foods are expected to follow the general trend on the market. Sales of
ready-made frozen foods are predicted to exceed the general market trend. Sales
by Apetit Kala are expected to continue growing, and the proportion of
industrially packaged fish of all retailed fish is expected to grow. Apetit
Kala's profit is expected to improve and be well in the black in 2006. As a
result of Apetit Kala's improved performance and cuts in fixed costs, the Food
Division's operating profit is expected to rise above the 2005 result from which
the impact of sugar business has been eliminated.

Net turnover in the feeds business is expected to increase slightly as a result
of higher sales prices and volumes. Mildola's net turnover contribution to the
Group for the entire financial period will increase the year's net turnover by
EUR 10 million. The discontinuation of the feeds factory in Vaasa and transfer of
production to the other factories in the Feeds group will be carried out
gradually during the summer. Transfers of production will call for increased
capacity in the other factories in the Feeds group. Investments are being made in
Finland at the moment, and investments to extend and revamp the Baltic Feed
factory in Latvia are beginning. The discontinuation of the factory in Vaasa is
geared to save some EUR 2 million, which will be felt in full in 2007. After the
cost cuts implemented at the beginning of the year, the operating profit for the
Feeds business is expected to exceed the 2005 operating profit from which the
impact of non-recurring items has been eliminated even though the operating
profit from vegetable oil operations is expected to fall short of the record
achieved in 2005

The Grain Trading net turnover is expected to exceed EUR 100 million as a result
of the good crops harvested last autumn. The profit is expected to be at the same
level as in 2005.

The entire Lännen Tehtaat Group's net turnover for 2006 is expected to be
slightly lower than in 2005. Operating profit for the entire year is expected to
be somewhat better than the 2005 operating profit reduced by the elimination of
non-recurring items, thanks to a better performance in the fish products
business, productivity measures and a cost-cutting programme. The impact of the
cost cutting programme on profit will be EUR +2.5 - 3.0 million.

Net turnover for the first quarter will be at around the same level as that for
the first quarter in 2005. The operating result for the first quarter will show a
loss in the same way as in the comparison period.

The transfer to IFRS reporting will cause the consolidated profit to accrue in
the latter part of the year.

Lännen Tehtaat's vision is to be one of the leading Finnish food companies, which
means the emphasis is on developing food operations. Action to expand the Group's
food business began in autumn. The goal is significant expansion in Finland and
in the northern parts of the Baltic Rim by the end of 2006.
Development of the Agricultural Division's business operations will continue with
the focus of growth being in the Baltic Sates and Russia.

The Group's cost-efficiency will be improved by implementing an action plan
during the first quarter of the year. Productivity will be enhanced e.g. by
looking into the possibilities of transferring the production of the Food
Division's factory in Turku to Säkylä.


CONSOLIDATED INCOME STATEMENT
EUR million
10-12/ 10-12/ 1-12/ 1-12/
2005 2004 2005 2004
3 mths 3 mths 12 mths 2 mths

Net turnover 122.5 112.4 433.0 473.8

Other operating income 8.2 0.3 10.9 4.1
Operating expenses -115.6 -104.1 -416.3 -457.8
Depreciation and reduction
in value -2.1 -2.1 -8.3 -8.7
Impairments -0.3 - -3.0 -

Operating profit 12.6 6.7 16.3 11.4

Financial income and expenses -0.4 -0.2 -1.2 -1.5
Share of profit of associate
companies 0.6 2.4 -0.1 2.7

Profit before taxes 12.8 8.9 14.9 12.6

Income taxes -2.8 -0.9 -3.5 -2.1

Profit for the financial period 10.0 8.0 11.4 10.5

The income taxes are based on the result for the period.

Attributable to:
Equity holders of the parent 9.6 8.5 11.4 10.4
Minority interest 0.4 -0.4 0.0 0.1

Earnings per share, EUR 1.52 1.38 1.81 1.68
Diluted earnings per share, EUR 1.52 1.38 1.81 1.68


CONSOLIDATED INCOME STATEMENT - CONTINUING OPERATIONS
EUR million
10-12/ 10-12/ 1-12/ 1-12/
2005 2004 2005 2004
3 mths 3 mths 12 mths 12 mths

Net turnover 122.5 112.4 433.0 424.9

Other operating income 8.2 0.4 10.9 2.9
Operating expenses -115.6 -104.1 -416.3 -405.0
Depreciation -2.1 -2.1 -8.3 -8.1
Impairments -0.3 - -3.0 -

Operating profit 12.6 6.7 16.3 14.7
Financial income and expenses -0.4 -0.2 -1.2 -1.1
Share of profit of associate
companies 0.6 2.4 -0.1 2.7

Profit before taxes 12.8 8.9 14.9 16.3

Income taxes -2.8 -0.9 -3.5 -2.1
Profit for the financial period 10.0 8.0 11.4 14.2

The income taxes are based on the result for the period.

Attributable to:
Equity holders of the parent 9.6 8.5 11.4 14.1
Minority interest 0.4 -0.4 0.0 0.1

Earnings per share, EUR 1.52 1.36 1.81 2.30
Diluted earnings per share, EUR 1.52 1.36 1.81 2.30


CONSOLIDATED INCOME STATEMENT - DISCONTINUED OPERATIONS
EUR million
10-12/ 10-12/ 1-12/ 1-12/
2005 2004 2005 2004
3 mths 3 mths 12 mths 12 mths

Net turnover - - - 48.9

Other operating income - - - 1.2
Operating expenses - - - -52.8
Depreciation and reduction in
value - - - -0.6

Operating profit/loss - - - -3.3

Financial income and expenses - - - -0.4
Share of profit of associate
companies - - - -

Profit/loss before taxes - - - -3.7

Income taxes - - - -

Profit/loss for the financial
period - - - -3.7

The income taxes are based on the result for the period.

Attributable to:
Equity holders of the parent - - - -3.7
Minority interest - - - -


NET TURNOVER BY BUSINESS SEGMENT
EUR million
10-12/ 10-12/ 1-12/ 1-12/
2005 2004 2005 2004
3 mths 3 mths 12 mths 12 mths

Food segment 39.0 37.9 149.4 130.6
Feed segment 59.9 53.0 205.1 195.0
Grain trading segment 26.0 25.0 86.6 107.2
Other operations segment 1.8 2.4 7.1 8.8
Inter-segment sales -4.2 -5.9 -15.3 -16.8
Continuing operations total 122.5 112.4 433.0 424.9
Discontinued operations - - - 48.9
Total 122.5 112.4 433.0 473.8


OPERATING PROFIT/LOSS BY BUSINESS SEGMENT
EUR million
10-12/ 10-12/ 1-12/ 1-12/
2005 2004 2005 2004
3 mths 3 mths 12 mths 12 mths

Food segment 10.1 2.2 9.6 4.1
Feed segment 3.6 4.4 9.4 11.7
Grain trading segment 0.5 0.6 1.4 2.3
Other operations segment -1.5 -0.6 -4.1 -3.4
Continuing operations total 12.6 6.7 16.3 14.7
Continuing operations total - - - -3.3
Total 12.6 6.7 16.3 11.4


NET TURNOVER BY GEOGRAPHICAL SEGMENT
EUR million
10-12/ 10-12/ 1-12/ 1-12/
2005 2004 2005 2004
3 mths 3 mths 12 mths 12 mths

Finland 105.2 100.1 382.8 383.2
Other EU member states 13.5 7.1 34.2 59.6
Other countries 3.8 5.2 16.0 31.0
Total 122.5 112.4 433.0 473.8


CONSOLIDATED BALANCE SHEET
EUR million
Dec. 31.2005 Dec. 31.2004
ASSETS
Non-current assets
Tangible assets 72.2 70.0
Goodwill 17.4 17.4
Other intangible assets 1.7 2.5
Investment in associate companies 21.3 22.3
Available-for-sale financial
assets 3.2 3.7
Receivables 6.9 0.3
Deferred tax assets 1.3 2.2
123.9 118.4

Current assets
Inventories 54.5 49.5
Receivables 42.5 37.2
Financial assets at fair value
through profit or loss - 0.5
Cash and cash equivalents 11.2 9.7
108.2 96.9

Total assets 232.2 215.4


EQUITY AND LIABILITIES
Equity attributable to the
equity holders of the parent 112.4 104.3

Minority interest 3.7 2.5

Total equity 116.1 106.8

Non-current liabilities
Long-term borrowings 16.0 23.1
Deferred tax liavilities 7.4 7.5
Non-current provisions 0.9 1.0
Non-current liabilities total 24.3 31.6

Current liabilities
Trade payables and other
liabilities 60.9 52.7
Short-term borrowings 29.9 23.3
Current provisions 0.9 1.0
Current liabilities total 91.7 77.0

Liabilities total 116.1 108.6

Total equity and liabilities 232.2 215.4


CONSOLIDATED CASH FLOW STATEMENT
EUR million
1-12/2005 1-12/2004
12 mths 12 mths

Cash flows from operating
activities 17.8 27.8
Cash flows from investing
activities -8.0 -9.4
Cash flows from financing
activities
Change in net debt -4.5 -17.1
Dividends paid -4.1 -3.9
Net increase/decrease in cash
and cash equivalents 1.0 -2.8

Cash and cash equivalents
at beginning of the period 10.2 13.0
Cash and cash equivalents
at end of the period 11.2 10.2


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
EUR million

A = Share capital
B = Share premium account
C = Net unrealised gains
D = Other reserves
E = Own shares
F = Translation differences
G = Retained earnings
H = Subordinated loans
I = Equity attributable to equity holders of the parent company
J = Minority interest
K = Shareholders' equity total


A B C D E F G H I J K
Shareholders'
equity at Dec,
31, 2003 FAS 12.2 21.4 7.3 0.8 -0.5 52.1 1.7 95.1 4.9 100.0

Transition to
IFRS standars 0.9 -0.8 - 2.1 -1.7 0.6 -0.6 -
Shareholders'
equity at Jan 1,
2004 IFRS 12.2 21.4 0.9 7.3 - -0.5 54.2 - 95.7 4.3 100.0

Available-for-sale
financial assets:
gains/losses
from fair value
measurement 0.4 0.4 0.4
removed from equity
and recognized in
income statement -0.2 -0.2 -0.2
Taxes related to
items entered into
equity and removed
from equity -
Translation
differences 0.2 0.2 0.2
Dividend
distribution -3.9 -3.9 -3.9
Targeted share
issue 0.4 1.9 2.3 2.3
Translation
differences -0.4 -0.4 -1.8 -2.2
Result of the
period 10.4 10.4 0.1 10.5
Shareholders'
equity at Dec
31, 2004 IFRS 12.6 23.4 1.1 7.3 - -0.3 60.2 - 104.3 2.5 106.8
Shareholders'
equity at Jan.
1, 2005 IFRS 12.6 23.4 1.1 7.3 - -0.3 60.2 - 104.3 2.5 106.8

Available-for-sale
financial assets:
gains/losses
from fair value
measurement 0.4 0.4 0.4
Cash flow hedges:
gains/losses
recorded in
equity 0.3 -
-
Taxes related to
items entered into
equity and removed
from equity -0.0
Translation
differences 0.1 0.1 0.1
Dividend
distribution -4.1 -4.1 -0.1 -4.2
Changes in
minority interest - 1.2 1.2
Other changes - -
-
Result of the period 11.4 11.4 0.0 11.4

Shareholders'
equity at Dec.
31, 2005, IFRS 12.6 23.4 1.8 7.3 - -0.2 67.5 - 112.4 3.7 116.1


RECONCILIATION OF SHAREHOLDERS' EQUITY IN THE COMPARATIVE PERIOD
EUR million

Shareholders' equity at September 30, 2004, FAS 97.5
+ minority interest (IAS 1, difference in presentation) 1.6
IFRS 3 Goodwill 3.4
IAS 2 Inventories 3.5
IAS 12 Deferred tax assets 1.6
IAS 12 Deferred tax liabilities -3.4
IAS 16 Tangible assets 0.4
IAS 19 Pension liability -0.1
IAS 28 Investments in associate companies 2.2
IAS 32 Own shares -0.8
IAS 39 Shares in listed companies 1.4
IAS 39 Derivatives -0.5
Shareholders' equity at December 31, 2004 (IFRS) 106.8


RECONCILIATION OF RESULT IN THE COMPARATIVE PERIOD
EUR million

Profit for the period (FAS) 6.0
+ minority interest (IAS 1, difference in presentation) 0.2
IFRS 3 Reversal of good will amortizations 3.2
IAS 2 Inventories -0.3
IAS 12 Deferred tax assets -0.5
IAS 12 Deferred tax liabilities -0.2
IAS 17 Finance leases 1.0
IAS 19 Pension liability 0.6
IAS 28 Investments in associate companies 0.3
IAS 39 Derivatives 0.2
Profit for the period Jan 1 - Dec 31, 2004 (IFRS) 10.5


KEY INDICATORS
Dec 31, 2005 Dec 31, 2004

Shareholders' equity per
share, EUR 18.56 17.08
Equity ratio, % 50.0% 49.6%
Return on equity, % 10.2% 10.1%
Return on investment, % 10.8% 8.7%
Investments, EUR million 11.7 11.2
Average number of personnel,
continuing operations 1033 890
Average number of personnel,
discontinued operations - 182
Average number of shares, 1 000 6 253 6 161


CONTINGENT LIABILITIES
EUR million
Dec 31, 2005 Dec 31, 2004

Mortgages given for debts:
Real estate mortgages 40.7 34.9
Corporate mortgages 51.4 51.4
Share pledged 3.6 3.6

Other securities given for own
commitments
Real estate mortgages 0.1 0.1
Pledges 0.0 0.0

Leasing liabilities 1.3 0.9

Non-cancellable other leases,
minimum lease payments 2.1 1.9

Contingent liabilities for own
commitments:
Repurchasing commitments 0.1 0.2

Contingent liabilities on behalf
of the associate companies:
Guarantees - 0.1
Repurchasing commitments 0.1 0.1

Other contingent liabilities:
Redemption liability of
leased buildings - 2.5


OUTSTANDING VALUES OF DERIVATIVE INSTRUMENTS

Forward currency contracts 1.5 3.3
Commodity derivative instruments 5.0 5.9
Interest rate swaps 25.0 25.0
07.02.2006 LÄNNEN TEHTAAT CUTS FIXED COSTS AND BEGINS EMPLOYEE CO-DETERMINATION TALKS TO
Lännen Tehtaat plc Stock Exchange Release February 7, 2006 at 2;00 p.m.
LÄNNEN TEHTAAT CUTS FIXED COSTS AND BEGINS EMPLOYEE CO-DETERMINATION TALKS TO
REDUCE PERSONNEL

The cost competitiveness of the Lännen Tehtaat Group units is unsatisfactory as a
result of increasingly stiff competition. In order to improve cost efficiency the
Group will be making changes to cut fixed costs permanently.

The aim is to cut fixed costs by some EUR 5 million at annual level. This year's
savings target is EUR 2.5-3.0 million. Achieving the target will call for savings
in both personnel and other costs. Lännen Tehtaat will start co-determination
talks with the personnel at Apetit and Suomen Rehu in order to reduce the number
of personnel by a total of some 30 people in various locations. As a result of
this plan, the company will record non-recurrent expenses of EUR 0.8-1.0 million
in the financial performance for the first quarter in 2006.

Apart from the cost cuts scheduled for immediate implementation, Lännen Tehtaat
will start looking into the possibility of transferring its production at the
Turku factory, which is part of the Apetit Frozen Foods and Jams unit, and the
related jobs to Apetit's factory in Säkylä. Production at the factory in Turku
currently employs some 55 people, 40 of whom may be offered work at the Säkylä
factory. The transfer of the production to Säkylä would take place during 2007 at
the earliest.

LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO

More information: Matti Karppinen, CEO, tel. +358 10 402 00

Distribution:
Helsinki Stock Exchange
Principal media
www.lannen.fi



23.12.2005 LÄNNEN TEHTAAT'S FINAL QUARTER RESULTS TO INCLUDE NON-RECURRENT EXPENSES ARISING
LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE DECEMBER 23, 2005, 9;00 a.m

LÄNNEN TEHTAAT'S FINAL QUARTER RESULTS TO INCLUDE NON-RECURRENT EXPENSES ARISING
FROM RESTRUCTURING AND IMPAIRMENT TESTING

Two strategic business units have been formed in Lännen Tehtaat's Food Division,
namely Apetit Frozen Foods and Jams and Apetit Fish. Joint sales, marketing and
controlling functions for these units have also been set up in the Division. At
the same time, the Group's IT management and personnel administration have been
transferred from Other Operations to the Food Division. In addition, the sugar
sales previously handled by the Food Division will be managed by Lännen Tehtaat's
associated company Sucros Ltd as from January 1, 2006. As a result of the
personnel arrangements made in connection with the reorganization, Lännen Tehtaat
will enter non-recurrent expenses of about EUR 0.9 million in the accounts for
the final quarter. The Group's operating profit is expected to improve annually
by about EUR 0.7 million in the coming years as a result of the restructuring.

Following impairment testing in accordance with the IFRS standards, Lännen
Tehtaat is to enter impairment losses totalling approximately EUR 0.4 million in
the final quarter accounts for the Food Division and Other Operations.

About EUR 0.3 million of the non-recurrent expenses and impairment losses are
assigned to the Food Division, and about EUR 1.0 million to Other Operations.

LÄNNEN TEHTAAT PLC

Matti Karppinen
CEO

More information: Matti Karppinen, CEO, tel. +358 10 402 00

Distribution:
Helsinki Stock Exchange
Principal media
www.lannen.fi



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