STOCKMANN SOLD NEWSPAPER AND MAGAZINE SU

STOCKMANN plc PRESS RELEASE May 6, 2003, 10.00 a.m.

STOCKMANN SOLD NEWSPAPER AND MAGAZINE SUBSCRIPTION BUSINESS OPERATIONS TO SUOMALAINEN KIRJAKAUPPA

Stockmann has today sold the newspaper and magazine subscription business operations carried on by the Academic Bookstore to Suomalainen Kirjakauppa effective June 1, 2003. Net sales of the business in 2002 amounted to nearly EUR 13 million.

Stockmann plc has today, May 6, 2003, sold the newspaper and magazine subscription business operations carried on by the Academic Bookstore to Suomalainen Kirjakauppa Oy. The business will be transferred to the new owner as from June 1, 2003. The transaction is in line with the Stockmann Group's strategy to concentrate on sales to private consumers while the customers of the newspaper and magazine subscription business are mainly comprised of companies and public sector institutions. The Academic Bookstore will continue operations as the newspaper and magazine subscription agency for Stockmann's loyal customers and as the supplier of books ordered by companies and public sector institutions.

The staff of the newspaper and magazine subscription business, amounting to 14 people, will be taken over by Suomalainen Kirjakauppa.

In 2002, the net sales of the newspaper and magazine subscription business of the Academic Bookstore amounted to nearly EUR 13 million. The business is highly seasonal and the discontinuance will not affect the Stockmann Group's sales figures until in the first months of 2004. The transaction does not have an effect on Stockmann's second-quarter and full-year earnings estimates for 2003 presented in the Group's Interim Report on April 24, 2003.

For more details, please contact: Pekka Vähähyyppä, CFO, tel. +358 9 121 3351 Karl Stockmann, director of the department stores in Finland, tel. +358 9 121 5802

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION Helsinki Exchanges Principal media





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