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Interim Management Statement for the period of 1 January – 28 April 2008

Talvivaara Group's main activity during the period was the construction of the Talvivaara nickel mine in Sotkamo, Finland. The project progressed according to plan both as regards its timetable and budget. Capital expenditure during the period of 1 January - 31 March 2008 amounted to €62 million. Total investment in the project through to 31 March 2008 amounted to €187 million.