AGM STATEMENT


29th April 2010                                                                 
                                 POWERFLUTE OYJ                                 
                                 AGM STATEMENT                                  

Powerflute Oyj (the "Group" or “Powerflute”), the packaging group with          
established positions in Nordic semi-chemical fluting and coated woodfree       
papers, released the following statement on current trading ahead of today's    
Annual General Meeting of shareholders to be held in Kuopio, Finland. Powerflute
is listed on the AIM market of the London Stock Exchange (Ticker: POWR) and on  
the First North list, the alternative market of the OMX Nordic Exchange         
Stockholm AB (Ticker POW1V)   
                                                  
Powerflute Chairman, Dermot Smurfit commented:     
                             
“During the first quarter, trading conditions have continued to be very tough   
and the Group's results were impacted by further substantial increases in pulp  
costs following the temporary closure of mills in the Chilean earthquake zone   
and by the closure of Finnish ports in March due to industrial action by port   
workers.     
                                                                   
Despite these factors, both of our businesses experienced healthy demand and    
achieved price increases during the quarter. The price recovery in Nordic       
semi-chemical fluting and coated wood free markets is expected to continue and  
should lead to improved performance in the second half of the year. Accordingly,
we expect that performance for the full year will be in line with current market
expectations.”                          
                                        
                                    - Ends-                                     

Contacts                                                                        
For additional information please contact:                                      
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| Powerflute OYJ                  |            | c/o Billy Clegg, Financial    |
| Dermot Smurfit (Chairman)       |            | Dynamics                      |
| Marco Casiraghi (Chief          |            | +44 (0)20 7269 7157           |
| Executive)                      |            |                               |
| David Walton (Chief Financial   |            |                               |
| Officer)                        |            |                               |
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| Collins Stewart Europe Ltd:     |            | +44 (0)20 7523 8350           |
| Piers Coombs                    |            |                               |
| Mark Dickenson                  |            |                               |
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| E.Öhman J:or Fondkommission AB: |            | +358 9 8866 6029              |
| Ms Arja Väyrynen                |            |                               |
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| Financial Dynamics:             |            | +44 (0)20 7831 3113           |
| Billy Clegg                     |            |                               |
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| K Capital Source                |            | +353 (1) 663 3686             |
| Mark Kenny                      |            |                               |
| Jonathan Neilan                 |            |                               |
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About Powerflute                                                                
Powerflute Oyj (“the Company” or “Powerflute”) is a packaging group with        
established positions in Nordic semi-chemical fluting and coated woodfree       
papers.  
                                                                       
Through its subsidiary Savon Sellu Oy, the Group operates a paper mill in       
Kuopio, Finland which produces a specialised form of semi-chemical fluting made 
from birchwood sourced principally in Finland and Russia. Corrugated boxes      
manufactured using Nordic semi-chemical fluting demonstrate exceptional strength
and moisture resistance and are extensively used for transportation of fruit and
vegetables, high-value industrial goods such as electrical appliances and       
automotive components. The Kuopio mill has the capacity to produce up to 300,000
tonnes per annum and is one of three suppliers of Nordic semi-chemical fluting  
in Europe. 
                                                                     
Through its recently acquired subsidiary Papierfabrik Scheufelen, the Group     
operates a paper mill in Lenningen, Germany which produces a range of coated    
woodfree papers from mixed hardwood and softwood pulps. Coated woodfree papers  
are used in the production of printed promotional material such as brochures,   
leaflets and other point of sale materials for producers and distributors of    
premium branded goods. The Lenningen mill has the capacity to produce up to     
300,000 tonnes per annum and supplies the majority of its products into the     
European market where total demand has historically been in excess of 7.7       
million tonnes per annum.