Announcement of outcome of the Offer after the extended acceptance period

Announcement of outcome of the Offer after the extended 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 consisted 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. The outcome of the
Offer after the ordinary acceptance period was made public on 31 December 2008
and in connection therewith, the Offer was extended until 12 January 2009. No
further extension will be made.

Following a calculation after the expiration of the extended acceptance period,
it follows that shareholders in Fazer Konfektyr, representing in total 2,360,000
shares of class A and 9,032,561 shares of class B, corresponding to 47.23 per
cent of the number of shares and 49.40 per cent of the votes in Fazer Konfektyr,
have accepted the Offer (the number of shares that have been tendered in the
Offer during the extended acceptance period is 46,210 shares of class B). 

Prior to the date of this announcement, Fazer has also, directly or indirectly,
acquired in total 7,551,055 shares of class B in Fazer Konfektyr outside of the
Offer, corresponding to 31.31 per cent of the number of shares and 11.43 per
cent of the votes in Fazer Konfektyr. Together with the shares tendered in the
Offer and the shares already held by Fazer, this means that Fazer holds
4,660,000 shares of class A and 19,280,643 shares of class B in Fazer Konfektyr,
corresponding to 99.26 per cent of the number of shares and 99.73 per cent of
the votes in Fazer Konfektyr. Settlement for shares tendered during the extended
acceptance period is expected to commence on 19 January 2009. Fazer reserves the
right to acquire further shares in Fazer Konfektyr in the market.

Fazer intends to call for compulsory purchase of the outstanding minority shares
in Fazer Konfektyr. Fazer Konfektyr announced in a press release on 13 January
2009 that the Board of Directors of Fazer Konfektyr has requested delisting
which has been approved by NASDAQ OMX Stockholm AB. The last day of trading with
Fazer Konfektyr's class B share will be 23 January 2009. 

Helsinki, 13 January 2009

Oy Karl Fazer Ab

Board of Directors

Additional information
Ulrika Romantschuk, SVP Communications, Fazer Group, tel +358 (0)40 566 4246

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.