FINLAND -- On 10 December 2015 Powerflute Oyj had received a preliminary proposal from Madison Dearborn Partners, LLC regarding a possible offer for the entire issued and to be issued share capital of the Company (the "Proposal").

Following evaluation of the Proposal by the independent members of the Board of Directors of Powerflute and consultations with certain major shareholders of Powerflute, the Board of Powerflute has terminated discussions with Madison Dearborn.

Powerflute is a paper and packaging group.