STOCKMANN'S VEHICLE DIVISION TO BE INCORPORATED ON JANUARY 1, 2005

STOCKMANN plc STOCK EXCHANGE RELEASE December 30, 2004, at 14.15

STOCKMANN'S VEHICLE DIVISION TO BE INCORPORATED ON JANUARY 1, 2005

According to the decision made by the Board of Directors of Stockmann plc, the company's Vehicle Division will be incorporated as an independent company as of January 1, 2005. The spin-off will be carried out as a transfer of business operations to Stockmann Auto Oy Ab, a new subsidiary that is wholly-owned by the parent company. The Vehicle Division's dealership agreements will be transferred to the new company, and the Vehicle Division's personnel will transfer to its employ under their current terms of employment. The director of Stockmann's Vehicle Division, Mr. Klaus Sundström, has been appointed Managing Director of Stockmann Auto Oy Ab.

The spin-off is carried out with a view to streamlining Stockmann's group structure and enhancing business efficiency and transparency when making the transition to IFRS reporting.

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION Helsinki Exchanges Principal media





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