Announcement of outcome of the Offer and extension of the acceptance period

Announcement of outcome of the Offer and extension of the acceptance period

On 16 June 2008, Oy Karl Fazer Ab (“Fazer”) announced a public offer to the
shareholders in Fazer Konfektyr Service AB (publ) (formerly Cloetta Fazer AB
(publ)) (“Fazer Konfektyr”), to tender all their shares in Fazer Konfektyr to
Fazer (the “Offer”). The Offer consists of SEK 202 in cash and 0.92 shares of
class B in Cloetta AB (publ) (“Cloetta”) for each share in Fazer Konfektyr. The
Offer was declared unconditional by Fazer on 5 December 2008. 

As follows from the final calculation, shareholders in Fazer Konfektyr,
representing in total 2,360,000 shares of class A and 8,986,351 shares of class
B, corresponding to 47.04 per cent of the number of shares and 49.33 per cent of
the votes in Fazer Konfektyr, have accepted the Offer. 

Prior to the date of this announcement, Fazer has also, directly or indirectly,
acquired in total 7,561,055 shares of class B in Fazer Konfektyr outside of the
Offer, corresponding to 31.35 per cent of the number of shares and 11.45 per
cent of the votes in Fazer Konfektyr. Together with the shares tendered in the
Offer and that Fazer already held, this means that Fazer holds 4,660,000 shares
of class A and 19,244,433 shares of class B in Fazer Konfektyr, corresponding to
99.11 per cent of the number of shares and 99.67 per cent of the votes in Fazer
Konfektyr. Settlement for shares tendered in the Offer is expected to commence
on 8 January 2009. Fazer reserves the right to acquire further shares in Fazer
Konfektyr in the market.

To provide shareholders in Fazer Konfektyr that have not yet tendered their
shares with the opportunity to accept the Offer, Fazer has decided to extend the
acceptance period until 15.00 (CET) on 12 January 2009. Settlement for shares
tendered during the extended acceptance period will commence as soon as possible
thereafter.

Fazer intends to call for compulsory purchase of the outstanding minority shares
in Fazer Konfektyr, as well as procure that the shares in Fazer Konfektyr are
de-listed from Nasdaq OMX Stockholm AB. 

Helsinki, 31 December 2008

Oy Karl Fazer Ab

Board of Directors


Additional information
Anita Laxén, Vice President, Communications, Fazer Confectionery
tel +358 (0)40 77 00 873

For additional information about the demerger, go to www.fazer.com >News and
Fazer Confectionery's information at www.fazerconfectionery.com > Financials

Fazer Group
Fazer Group originates from a family business that was founded in 1891 when Karl
Fazer opened his first bakery and café in Helsinki. Today the Group offers meal
services, bakery and confectionery products and operates in a total of eight
countries. Its business is based an a passion for customer satisfaction, quality
excellence and team spirit. Fazer Group operates in four divisions which are all
committed to creating taste sensations in their respective markets: Fazer Amica,
Fazer Bakeries, Fazer Confectionery and Fazer Russia. Fazer Group‘s turnover for
2007 was over 1.2 billion euros. The Group employs ca. 16,000 people.

Fazer Amica is a leading contract catering company serving in the Nordic and the
Baltic countries, offering its customers delicious food and individually
tailored service solutions. The company operates in the Nordic countries,
Estonia, Latvia and Russia. Fazer Bakeries offers fresh and tasty bakery
products and operates in Finland, Sweden, Russia, Estonia, Latvia and Lithuania.
Fazer Confectionery is Finland's leading provider of confectionery products and
a strong player in the Baltic region. Fazer's three confectionery factories are
located in Finland: chocolate products are made in Vantaa, sugar confectionery
in Lappeenranta and chewing gum in Karkkila. Fazer Russia is responsible for
Fazer's bakery operations in Russia and is one of the country's leading
providers of baked goods.