STOCKMANN GROUP'S SALES IN FEBRUARY 2003

STOCKMANN plc STOCK EXCHANGE BULLETIN March 11, 2003, 12.30 p.m.

STOCKMANN GROUP'S SALES IN FEBRUARY 2003

In February the Stockmann Group's sales were up 9 per cent on the previous year. Sales by the Vehicle Division continued the vigorous growth and topped the sales in February 2002 by 31 per cent. The change in the vehicle tax structure has boosted the demand and the order bookings for new vehicles have increased markedly. The Department Store Division's sales grew by 2 per cent while Hobby Hall's sales were on a par with the previous year. After the strong growth in January, Seppälä's sales in February were down 3 per cent on February 2002.

The Department Store Division's sales include sales by the Zara store opened in April 2002 and sales by the two Stockmann Beauty stores opened in the autumn. Weakening of the US dollar - the pricing currency in Stockmann stores in Russia - against the euro has a reducing effect on the euro-denominated sales growth of the Department Store Division despite the clear growth in the dollar-denominated sales in Russia.

Sales figures in February and in January-February

February January-February January- December

STOCKMANN plc

Hannu Penttilä Managing Director

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