STOCKMANN AND NORDEA TO COOPERATE IN FINANCING LOYAL CUSTOMER ACCOUNTS

The credit facilities of Stockmann's credit line Loyal Customer Cards will converge with those of the international MasterCard during 2008 in Finland ans Estonia, as well as in Latvia where Stockmann has previously not offered Loyal Customer Card with a credit facility.

There will be no separate annual charge for the card. All the customer benefits of the present credit line Loyal Customer Cards will be retained in full, with more benefits to come. In future too, prime customers will have a special Exclusive Loyal Customer Card that offers additional benefits. The cards can also be provided with a payment card facility like the one on present-day bank cards. Stockmann's cash card will remain in use just as before.

The new card offerings will be based on an agreement between Stockmann and Nordea concerning transfer of the financing of Loyal Customer accounts to Nordea. This transfer of accounts will lighten Stockmann's balance sheet in 2008 in average by about EUR 65 million.

Stockmann has a total of 1.5 million Loyal Customers in the Group's market areas in Finland, the Baltic countries and Russia. The total number of Stockmann credit accounts in Finland and Estonia is over 600,000. Ten of the employees who attend to them will transfer to Nordea's employ under their current terms of employment.

The new card cooperation goes all the way back to 1998 and the launch of a Combination Card which was both a Stockmann account card and the bank card of Merita Bank, Nordea's predecessor.

Further information:

Stockmann Hannu Penttilä, CEO, +358 9 121 5801 Pekka Vähähyyppä, CFO, +358 9 121 3351 Maaret Kuisma, Marketing Director, +358 9 121 5820

Nordea Pekka Nuuttila, head of Regional Bank Helsinki and Uusimaa, +358 9 165 42530 Atte Palomäki, Chief Communication Officer, Finland, +358 9 165 42325, +358 40 547 6390

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION OMX Nordic Exchange Helsinki Principal media





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