Picodeon Reinforces its management

March, 3, 2009

Dr. Asko Vehanen has served as interim CEO of Picodeon Ltd Oy from October 2008. He shall now continue to contribute in Picodeon’s strategic planning and fund raising projects as Picodeon’s Board Director. Asko continues his duties as the CEO of Carbodeon Ltd Oy.

Picodeon Oy Ltd has appointed Jukka Häyrynen (M.Sc.(Tech), MBA) as the new CEO. Jukka has worked for the past 11 years as Partner at venture capital firm Eqvitec Partners Oy. Before that Jukkahas worked as Director at SITRA and at various positions at VTT, Technical Research Centre of Finland.

The Board of Directors of both Picodeon and Carbodeon are confident that these appointments will accelerate commercialization of the Picodeon’s coating technology and Carbodeon’s new materials businesses, respectively. The two companies are actively looking for next round financing in the near future.

For additional information see www.carbodeon.com and www.picodeon.com or contact:

Asko Vehanen Phone+358 40 556 6765,

asko.vehanen(at)picodeon.com and

Jukka HäyrynenPhone +358 500 448 826,

jukka.hayrynen(at)Picodeon.com