STOCKMANN'S ANNUAL GENERAL MEETING ON MARCH 29, 2005

STOCKMANN plc STOCK EXCHANGE RELEASE March 29, 2005, at 18.30

STOCKMANN'S ANNUAL GENERAL MEETING ON MARCH 29, 2005

Stockmann plc's Annual General Meeting, held in Helsinki on March 29, 2005, approved the financial statements for the financial year January 1 - December 31, 2004, and granted release from liability to those responsible for the accounts. The Annual General Meeting decided to pay a dividend of EUR 1.00 per share for last year. The Board of Directors' proposals to the Annual General Meeting were approved without changes.

CEO's review

In his review at Stockmann's Annual General Meeting in Helsinki on March 29, 2005, CEO Hannu Penttilä stated that the Stockmann Group's profit on ordinary operations rose to a record high in 2004, having grown by a whopping 30 per cent thanks to the substantial earnings increase turned in by the Department Store Division and Seppälä. Other operating income in 2004 fell markedly short of the previous year's figure, but in spite of this the Group's total earnings improved to EUR 79.1 million. The Group's sales totalled EUR 1,735 million.

As sales abroad surged, their share of the Group's total sales increased to 14 per cent. Penttilä estimated that Stockmann is well on schedule in the implementation of its strategic objective: that by the end of 2008 about a third of the Group's sales and at least an equal proportion of earnings will come from abroad.

According to Penttilä, the Stockmann Group's sales during the present year will see significantly stronger growth in Russia and the Baltic countries than in Finland. Total sales are expected to rise to about EUR 1.9 billion and the consolidated profit to once again improve on the previous year's figure.

Dividend of EUR 1.00 per share

The Annual General Meeting resolved that a dividend of EUR 1.00 per share is to be paid for the 2004 financial year. The total dividend payout will amount to EUR 53.0 million. The dividend will be paid on April 8, 2005, to those shareholders who on the record date for the dividend payout, April 1, 2005, have been entered in the Shareholder Register kept by Finnish Central Securities Depository Ltd.

Amendment to the Articles of Association

The Annual General Meeting approved the Board of Directors' proposal for the partial amendment of Articles 2, 11 and 12 of the Articles of Association. Article 2 was amended such that the company can also be engaged in restaurant business. Article 11 was amended in accordance with the amendments to the Finnish Companies' Act such that a notice of General Meeting must be published 17 days before the General Meeting at the latest. Also Article 12 was amended in accordance with the amendments to the Finnish Companies' Act such that a shareholder has to register to the General Meeting no later than at the date mentioned in the notice, which can be no earlier than 10 days before the General Meeting. The previous and new Articles 2, 11 and 12 of the Articles of Association are annexed hereto.

Election of the Board of Directors

The Annual General Meeting resolved, in accordance with the proposal of the Board's Appointments and Compensation Committee that seven members be elected to seats on the Board of Directors and re-elected from among the Board's present members Lasse Koivu, managing director, Föreningen Konstsamfundet r.f., Erkki Etola, managing director, Oy Etola Ab, Professor Eva Liljeblom, Kari Niemistö, managing director, Oy Selective Investor Ab, Christoffer Taxell, LL. M., Carola Teir-Lehtinen, Senior Vice President, Fortum Corporation, and Henry Wiklund, managing director, Svenska litteratursällskapet i Finland r.f., for a term of office up to the end of the next Annual General Meeting.

In its organization meeting on March 29, 2005, the Board of Directors re- elected Lasse Koivu chairman and Erkki Etola vice chairman. The Board of Directors re-elected Lasse Koivu chairman of the Board's Appointments and Compensation Committee. Erkki Etola and Henry Wiklund were re-elected other members of the Appointments and Compensation Committee.

Auditors

Re-elected as regular auditors were Wilhelm Holmberg, Authorized Public Accountant, and Henrik Holmbom, Authorized Public Accountant. KPMG Oy Ab will continue to act as the deputy auditor.

Other resolutions

The Annual General Meeting passed a resolution to authorize the Board of Directors to decide on transferring a maximum of 401,172 of the Company's own Series B shares (treasury shares) in one or more instalments. The authorization will be valid for one year.

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION Helsinki Exchanges Principal media

STOCKMANN plc, SUPPLEMENT TO STOCK EXCHANGE RELEASE March 29, 2005

Article 2 of the old Articles of Association:

Article 2 Line of business

The Company's line of business is to engage in department store operations, the motor trade, mail order sales and other retail trade as well as in business operations and services connected with them. The Company can engage in financing and investment operations.

Article 2 of the new Articles of Association:

Article 2 Line of business

The Company's line of business is to engage in department store operations, the motor trade, mail order sales and other retail trade as well as in business operations and services connected with them. The Company can engage in financing and investment operations and the restaurant business.

Article 11 of the old Articles of Association:

Article 11 Notice of a General Meeting

A notice of a General Meeting shall be published, in a newspaper which is determined by the Board of Directors and comes out in the Helsinki area, no earlier than two months and no later than two weeks before the last day for notification. Alternatively, the notice can be sent out within the above-mentioned fixed periods as an ordinary letter to shareholders entered in the Company's Shareholder Register.

Article 11 of the new Articles of Association:

Article 11 Notice of a General meeting

A notice of a General Meeting shall be published, in a newspaper which is determined by the Board of Directors and comes out in the Helsinki area, no earlier than two months and no later than seventeen (17) days before the last day for notification. Alternatively, the notice can be sent out within the above-mentioned fixed periods as an ordinary letter to shareholders entered in the Company's Shareholder Register.

Article 12 of the old Articles of Association:

Article 12 Right to vote and registration to attend a General Meeting A shareholder shall exercise his right to vote at a General Meeting personally or via a proxy.

In order to participate in a General Meeting, a shareholder who has been entered in the Shareholder Register must notify the Company of his intention to attend the meeting at the time and place mentioned in the notice of meeting. The date of notification can be no earlier than five days before the meeting. A shareholder whose Shares have not been transferred to the book-entry system shall also have the right to participate in a General Meeting provided that the shareholder has been entered in the Company's Shareholder Register prior to September 28, 1994. In this case the shareholder must present his share certificate or other documentation indicating that title to the Shares has not been transferred to the book-entry system.

Article 12 of the new Articles of Association:

Article 12 Right to vote and registration to attend a General Meeting A shareholder shall exercise his right to vote at a General Meeting personally or via a proxy.

In order to participate in a General Meeting, a shareholder who has been entered in the Shareholder Register must notify the Company of his intention to attend the meeting at the time and place mentioned in the notice of meeting. The date of notification can be no earlier than ten (10) days before the meeting. A shareholder whose Shares have not been transferred to the book-entry system shall also have the right to participate in a General Meeting provided that the shareholder has been entered in the Company's Shareholder Register prior to September 28, 1994. In this case the shareholder must present his share certificate or other documentation indicating that title to the Shares has not been transferred to the book-entry system.





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