BESTSELLER AND STOCKMANN JOIN FORCES IN RUSSIA

STOCKMANN plc STOCK EXCHANGE RELEASE October 26, 2004, at 12.00

BESTSELLER AND STOCKMANN JOIN FORCES IN RUSSIA

Bestseller A/S and Stockmann plc have signed a cooperation agreement on establishing a store chain in Russia. Bestseller's brands include Jack & Jones, Only, Vero Moda, Exit and Selected. Through this new cooperation, the 15 years' business relationship between the two companies will reach a new level.

The first Bestseller multi-brand fashion store with 1 700 square metres of retail space will be opened in the Mega North Shopping Centre in Moscow during spring 2005. Developed and owned by Ikea, this 220 000 square metre shopping centre is one of the largest in Europe. At the opening of Mega North in December 2004, Stockmann opens there a new department store, a Seppälä store and a Zara store. In the next few years Stockmann will place special emphasis on gaining a strong footing for the franchising business in Russia beside the company's department store business.

Bestseller has more than 1 750 stores in 29 countries. Both companies believe that joining their business forces will bring noticeable value added to the business development in the fast developing Russian consumer markets.

Further information: Bestseller A/S, Mr. Troels Holch Povlsen +45 99 42 33 80 Stockmann plc, Mr. Jukka Hienonen +358 50 388 9670

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION Helsinki Exchanges Principal media





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