KLAUS SUNDSTRÖM APPOINTED AS NEW DIRECTO

STOCKMANN plc STOCK EXCHANGE RELEASE March 26, 2004, 12.00 noon

KLAUS SUNDSTRÖM APPOINTED AS NEW DIRECTOR OF STOCKMANN'S VEHICLE DIVISION

As new director of Stockmann's Vehicle Division and member of Stockmann Group's Management Committee has been appointed Klaus Sundström (53), M.Sc.(Econ.). He has previously served as Managing Director of e.g. Maan Auto Oy and Metro-Auto Group. Sundström's present post is as director of VR Ltd Passenger Services.

Klaus Sundström enters Stockmann's employ in April 2, 2004. Esa Mäkinen, the present director of the Vehicle Division, will start in August as Managing Director of Veho Oy Ab, retail trade unit of the Veho Group. Mäkinen continues attending to the current operational matters of the Vehicle Division until the end of March.

The Vehicle Division is one of Stockmann's four commercial divisions, the rest of which are the Department Store Division, Hobby Hall that engages in distance retailing, and Seppälä, chain of fashion stores. The Vehicle Division's sales in 2003 amounted to EUR 480 million and its share of Stockmann's consolidated sales was 28 per cent. The Vehicle Division acts as a dealer for Ford, Audi, Volkswagen and Skoda and has operations in the Helsinki metropolitan area, Turku and Tampere. With its market share of 24 per cent the division is the clear market leader in the Helsinki metropolitan area. In 2003, Stockmann's Vehicle Division became the largest Ford dealer in the Northern countries. The division has posted record earnings in the past two years.

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION Helsinki Exchanges Principal media





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