DIRECTED ISSUE OF EUR 96.0 MILLION FROM STOCKMANN TO HHT HOLDING OY AB, A COMPANY OWNED BY THE HARTWALL FAMILY, AND RIGHTS OFFERING OF A MAXIMUM OF EUR 44.9 MILLION TO ALL SHAREHOLDERS

STOCKMANN plc Company Announcement 14.8.2009 at 13.55

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES.

DIRECTED ISSUE OF EUR 96.0 MILLION FROM STOCKMANN TO HHT HOLDING OY AB, A COMPANY OWNED BY THE HARTWALL FAMILY, AND RIGHTS OFFERING OF A MAXIMUM OF EUR 44.9 MILLION TO ALL SHAREHOLDERS

Stockmann Oyj Abp ("Stockmann" or the "Company") has today signed an agreement with HTT Holding Oy Ab, a company owned by the Hartwall family ("HTT Holding") on a transaction ("Transaction"), whereby the capital structure of the Company will be reinforced and HTT Holding will become a major strategic and long-term shareholder of the Company. Through this directed issue and rights offering, the Company will acquire a total of approximately EUR 140.9 million for the amortisation of the debt taken out for the acquisition of AB Lindex. It was stated by the Stockmann Board of Directors at the time of the Lindex acquisition that it was their intention to improve the equity ratio after the Lindex transaction. The Transaction will allow the Company to improve its equity ratio and allow the Company to reach its strategic objective of an equity ratio of at least 40%. The Transaction and the related directed issue and rights offering are in line with this strategy. To ensure the consummation of the Transaction, HTT Holding and certain shareholders of the Company have confirmed to subscribe for their pro rata share in the rights issue. In addition, HTT Holding has given an undertaking, as described below, relating to the rights issue.

Directed Issue

Based on the authorisation granted by the annual general meeting of shareholders on 18 March 2008, the Company's Board of Directors offered today a directed issue to HTT Holding, whereby a total of 2,433,537 new Series A shares and a total of 3,215,293 new Series B shares were issued ("Directed Issue"). The new shares represent approximately 8.39 per cent of all shares issued and outstanding in the Company and the votes attached to such shares after the Directed Issue. The subscription price of the new share is EUR 17.00 per each new Series A and Series B share. The subscription price is approximately 31.2 per cent higher than the volume- weighted average price of the company's Series B share for the past twelve months. In addition, the aforementioned Transaction negotiated with HTT Holding, comprising the directed issue and the rights issue, has been taken into account in the determination of the subscription price. HTT Holding has subscribed for and paid the shares offered in the Directed Issue in full. The Company acquired a total of approximately EUR 96.0 million in the Directed Issue. Stockmann intends to use the net proceeds from the Directed Issue in full for the amortisation of the debt taken out for the acquisition of AB Lindex.

The shares issued in the Directed Issue will be registered with the Finnish Trade Register so that HTT Holding receives subscription right in the rights offering described below for the shares it has subscribed today in the Directed Issue. The Company will apply for the listing of the shares on the stock exchange list maintained by NASDAQ OMX Helsinki Ltd ("Helsinki Stock Exchange"), and the shares will be subject to public trading on the exchange list on or about 19 August 2009. The Company has been exempted by the FIN-FSA from the duty to publish a prospectus when listing the shares.

The shares issued in the Directed Issue were paid upon subscription, and the shares will rank equally in all respects with the existing ordinary shares of par value of EUR 2.00 each. Series A shares and Series B shares carry equal economic benefit but Series A shares carry 10 votes per share whilst Series B shares carry one vote per share.

Rights Offering

Based on the authorisation granted by the annual general meeting of shareholders on 18 March 2008, the Company's Board of Directors of also decided to carry out a rights offering of approximately EUR 44.9 million ("Rights Issue").

The Board of Directors of Stockmann decided to issue a maximum of 1,611,977 new Series A shares and a maximum of 2,129,810 new Series B shares, i.e., a total of a maximum of 3,741,787 new shares (the "Offer Shares"), whereby the shareholders of Stockmann have the pre-emptive right to subscribe for the new shares in proportion to their current shareholdings in the Company. The Offer Shares represent approximately 5.26 per cent of all shares outstanding and votes attached to such shares after the execution of the Directed Issue and the contemplated Rights Offering.

The subscription price of the Offer Shares in the Rights Offering is EUR 12.00 per share. The subscription period will commence on 31 August at 8:00 and expire on 18 September 2009 at 20:00.

Subscription right rests with a shareholder who is registered in the Company's shareholders' register maintained by Euroclear Finland on the Record Date of the Rights Offering on 19 August 2009 ("Record Date") or a shareholder whose shares are nominee registered on the Record Date in the shareholders' register. HTT Holding receives subscription right for the shares it has subscribed for in the Directed Issue.

A shareholder who has subscription right shall automatically receive for every Series A share held on the Record Date one (1) freely transferable Right in the form of a book-entry entitling to subscribe for the Series A Offer Shares and for every Series B share held on the Record Date one (1) freely transferable Right in the form of a book-entry entitling to subscribe for the Series B Offer Shares or (jointly the "Right"). Every eighteen (18) Rights entitling to the subscription of Series A shares will entitle their holder to subscribe for one (1) new Series A share and, correspondingly, every eighteen (18) Rights entitling to the subscription of Series B share will entitle their holder to subscribe for one (1) new Series B share. No fractions of the Offer Shares will be allotted.

In relation to the Rights Offering, the Company has submitted an offering circular for the approval of FIN-FSA, and the offering circular will published on or about 26 August 2009. Public trading of the Rights related to Series A shares and Series B shares on the Helsinki Stock Exchange commences on or about 31 August 2009 and expires on or about 11 September 2009.

Stockmann will publish the final results of the Offering in a stock exchange release on or about 24 September 2009.

Detailed terms and conditions of the Rights Offering are attached to this stock exchange release.

Assuming that all of the Offer Shares are subscribed for in the Rights Offering, the proceeds received by Stockmann from the Rights Offering will be approximately EUR 44.9 million. Stockmann intends to use the net proceeds from the Rights Offering in full for the amortisation of the debt taken out for the acquisition of AB Lindex.

HTT Holding and certain other shareholders in the Company, who hold an aggregate of 45.1 per cent of the Company's share capital and 56.8 per cent of the votes attached to such shares after the Directed Issue, have confirmed that they will subscribe for their pro rata share of the Offer Shares in the Offering. HTT Holding has undertaken to subscribe for any Offer Shares that remain unsubscribed for in the Rights Offering.

E. Öhman J:or Securities Finland Ltd. will be acting as the financial adviser of the Company with respect to the Transaction. The manager of the directed issue is E. Öhman J:or Securities Finland Ltd., and the lead manager and bookrunner of the Rights Offering is Nordea Bank Finland Oyj. Legal adviser in the Transaction is Castrén & Snellman Attorneys Ltd.

For further enquiries, please contact:

Stockmann plc:

Hannu Penttilä - Chief Executive Officer +358 9 121 5801 Pekka Vähähyyppä - Chief Financial Officer +358 9 121 3351

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION Nasdaq OMX Principal media

Important notice

This announcement is an advertisement and not a prospectus for the purposes of applicable measures implementing Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive (the "Prospectus Directive"). A prospectus relating to the rights offering referred to in this announcement prepared pursuant to the Prospectus Directive will be published, which, when published, will be available at subscription locations in Finland.

The distribution of this announcement in certain jurisdictions may be restricted. This announcement does not constitute an offer of, or an invitation to purchase, any securities of Stockmann in any jurisdiction.

Copies of this announcement are not for distribution, directly or indirectly, in or into Australia, Canada, Japan, Hong Kong or the United States. This announcement does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States, nor may such securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. Stockmann does not intend to register any portion of the offering in the United States or to conduct a public offering of any securities in the United States.

This communication does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the securities. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FP Order") and (iii) high net worth entities falling within Article 49(2) of the FP Order, (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Stockmann has not authorized any offer to the public of shares or subscription rights in any Member State of the EEA other than Finland and Sweden. Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State (other than Finland and Sweden) that has implemented the Prospectus Directive is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.

This announcement contains "forward-looking statements", which are statements related to future events. In this context, forward-looking statements often address Stockmann's expected future business and financial performance, and often contain words such as "expect, "anticipate, "intend, "plan," "believe", "seek, or "will". Forward-looking statements are based on current expectations and projections about future events. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Stockmann does not undertake to update its forward-looking statements.

Nordea Bank Finland Plc and E. Öhman J:or Group Finland (Pankkiiriliike E. Öhman J:or Suomi Oy) are acting exclusively for Stockmann and no one else in connection with the rights offering and will not regard any other person (whether or not a recipient of this announcement) as their respective clients in relation to the rights offering and will not be responsible to anyone other than Stockmann for providing the protections afforded to their respective clients or for providing advice in relation to the rights offering or any matters referred to in this announcement.

Neither Nordea Bank Finland Plc nor E. Öhman J:or Group Finland (Pankkiiriliike E. Öhman J:or Suomi Oy)accepts any responsibility whatsoever for the contents of this announcement, and makes no representation or warranty, express or implied, for the contents of this release, including its accuracy, completeness or verification, or for any other statement made or purported to be made by it, or on its behalf, in connection with Stockmann or the ordinary shares or the rights offering, and nothing in this release is or shall be relied upon as, a promise or representation in this respect whether as to the past or future. Nordea Bank Finland Plc and E. Öhman J:or Group Finland (Pankkiiriliike E. Öhman J:or Suomi Oy) accordingly disclaim to the fullest extent permitted by applicable law any and all liability whether arising in tort, contract or otherwise (save as referred to above) which they might otherwise have in respect of this announcement or any such statement.

APPENDIX TERMS AND CONDITIONS OF THE RIGHTS OFFERING

On 18 March 2008, the annual general meeting of Stockmann authorised the Company's Board of Directors to decide on the issuance of shares and/or special rights entitling holders to shares in one ore more instalments. The Board of Directors was authorised to decide on the number of Series A and Series B shares to be issued. However, the aggregate number of shares issued on the basis of the authorisation may not exceed 15,000,000 shares. Based on the authorisation, the issuance of shares may be carried out in accordance with the shareholders' pre-emptive rights or as a directed share issue. The Board of Directors was authorised to decide on other terms and conditions of the issue of shares. The authorisation is effective for a maximum of three (3) years. The purpose of the issuance of shares and/or the issuance of special rights entitling holders to shares is to reinforce the Company's capital structure by amortising the debt obtained for the acquisition of Lindex.

Based on the authorisation, the Company has carried out directed share issues on 23-24 June 2008 (the new shares were registered with the Trade Register on 27 June 2008) and 14 August 2009 (the new shares will be registered with the Trade Register on or about 18 August 2009). A total of 11,258,190 shares in the Company were issued in these directed issues.

On 14 August 2009, the Board of Directors of the Company resolved, based on the authorisation granted by the annual general meeting of the Company and as part of the Company's arrangements on reinforcing the Company's capital structure, to issue a maximum of 1,611,977 new Series A offer shares and a maximum of 2,129,810 new Series B offer shares (the "Offer Shares") in an issue of shares against payment based on the pre-emptive subscription right of the shareholders (the "Offering") as set forth in these terms and conditions of the Offering.

As a result of the Offering, the total number of shares in the Company may increase from 67,352,166 shares to a maximum of 71,093,953 shares. Provided that all Offer Shares are subscribed for, the new Series A shares to be issued in the Offering represent approximately 5.6 per cent of the total number of Series A shares outstanding prior to the Offering and the votes attached to such shares and approximately 5.3 per cent of the total number of Series A shares outstanding after the Offering and the attached votes. Correspondingly, the new Series B shares to be issued in the offering represent approximately 5.6 per cent of the total number of Series B shares outstanding prior to the Offering and the votes attached to such shares and approximately 5.3 per cent of the total number of Series B shares outstanding after the Offering and the attached votes. The Offer Shares represent approximately 5.6 per cent of the total number of all shares in the Company outstanding prior to the Offering and approximately 5.6 per cent of all the votes attached to all the shares in the Company prior to the Offering, and approximately 5.3 per cent of the total number of all shares in the Company outstanding after the Offering and approximately 5.3 per cent of all the votes attached to all the shares in the Company after the Offering.

Subscription Right

New Series A and Series B shares will be offered for subscription to the holders of the Company's Series A and Series B shares in proportion to their shareholdings in the Company on the record date of the Offering, whereby the shareholders of Stockmann are entitled to subscribe for one (1) new share in the same series for every eighteen (18) shares owned in the Company. The record date of the Offering is 19 August 2009 (the "Record Date").

Subscription right rests with a shareholder who is registered in the Company's shareholders' register maintained by Euroclear Finland on the Record Date or a shareholder whose shares are nominee registered on the Record Date in the shareholders' register.

A shareholder who has subscription right shall automatically receive for every Series A share held on the Record Date one (1) freely transferable right in the form of a book-entry entitling to subscribe for the Series A Offer Shares and for every Series B share held on the Record Date one (1) freely transferable right in the form of a book-entry entitling to subscribe for the Series B Offer Shares or (jointly the "Right").

Rights pertaining to a shareholder cannot be obtained and a Right may not be exercised before the shareholder's right has been entered into the book- entry securities system. Holders of shares in the joint book-entry account may apply for the registration of their right in the book-entry system and obtain Rights also after the Record Date before the end of the Subscription Period. If the right of the shareholder has not been entered into the book-entry securities system at the end of the Subscription Period, the Rights will expire worthless.

The right to subscribe for the Offer Shares in the Offering rests with a holder of Rights, i.e., a shareholder or person or an entity to whom the Rights have been transferred. The Rights are freely transferable and subject to public trading on the NASDAQ OMX Helsinki Oy (Helsinki Stock Exchange) from 31 August to 11 September 2009, as estimated.

If a share in the Company entitling to the Right is pledged or is subject to another restriction, the Right may not necessarily be used without the consent of the holder of the pledge or of such other right.

Subscription Ratio

Every eighteen (18) Rights entitling to the subscription of Series A shares will entitle their holder to subscribe for one (1) new Series A share and, correspondingly, every eighteen (18) Rights entitling to the subscription of Series B shares will entitle their holder to subscribe for one (1) new Series B share (the "Subscription Ratio"). No fractions of the Offer Shares will be allotted.

Subscription Price

The Subscription Price of the Offer Shares is EUR 12.00 per Series A Offer Share and EUR 12.00 per Series B Offer Share.

From the Subscription Price per share, two euros (EUR 2.00) shall be entered into the Company's share capital and the remainder shall be entered into the invested unrestricted equity reserve of the Company.

Subscription Period

The subscription period will commence on 31 August at 8:00 and expire on 18 September 2009 at 20:00 (the "Subscription Period"). The subscription places will accept subscription assignments during their business hours.

Account operators and custodians may request submission of a subscription assignment from their customers already at a certain date before the public trading with the Rights or the Subscription Period ends. Stockmann's Loyal Customer Services in Finland accept subscription assignments until the closing time of the department stores on 11 September 2009.

Places of Subscription

Subscription Places include: 1. Branch offices of Nordea Bank Finland Plc and Nordea Private Banking units in Finland 2. Nordea Customer Service by phone with access code identification Monday-Friday at 8:00-20:00, tel. +358 200 3000 (service in Finnish) and tel. +358 200 5000 (service in Swedish) (local network charge / mobile call charge). A subscription assignment submitted through Nordea's Customer Service requires that the subscriber has a valid bank access code agreement with Nordea. Companies may not submit subscription assignments over the phone. 3. Stockmann's Loyal Customer Services at department stores located in Finland during their business hours. Subscriptions at Stockmann's Loyal Customer Services must be made no later than 11 September 2009. Stockmann's Loyal Customer Services do not provide OTC trading of odd-lot subscription rights.

In addition, subscription assignments may be submitted to the account operators and custodians who have entered into an agreement with Nordea Bank Finland Plc on reception of subscriptions.

Exercise of Rights

A shareholder may participate in the Offering by subscribing for the Series A Offer Shares A or Series B Offer Shares by using the Rights on the shareholder's book-entry account and by paying the Subscription Price. In order to participate in the Offering, a shareholder must give a subscription assignment in accordance with the instructions provided by the shareholder's own custodian or book-entry account operator. If the shareholder's own account operator does not provide instructions in relation to the subscription, the shareholder should contact Nordea Bank Finland Plc. The book-entry account customers of Euroclear Finland Oy must submit their subscription assignment at a branch office of Nordea Bank Finland Plc.

Other investors participating in the Offering, such as holders of Rights purchased from the Helsinki Stock Exchange, must submit their subscription assignments in accordance with the instructions given by their own custodian or book-entry account operator.

Shareholders and investors participating in the Offering, whose shares or Rights are held through a nominee (or other custodian), must submit their subscription assignments in accordance with the instructions given by their nominees.

The subscription assignment must be submitted per each separate book-entry account.

Any exercise of the Rights is irrevocable and may not be modified or cancelled other than as set forth below in section "-Cancellation of Subscription under Certain Circumstances".

Any unexercised Rights will expire at the end of the Subscription Period at 20:00 on 18 September 2009, at the latest.

OTC Trading of Odd-Lot Subscription Rights

The shareholders may also, at the time of submitting the subscription assignment, sell or buy, free of charge, Rights exceeding or falling short of the Subscription Ratio, i.e. a maximum of seventeen (17) Rights. If the shareholder's account operator or custodian does not provide the opportunity to OTC trading of odd-lot subscription rights, the shareholder can trade with off-lots and submit the subscription at Nordea Bank Finland Plc. The OTC trading of odd-lot subscription rights will end at the expiration of the Subscription Period, at the latest. The OTC trading of odd-lot subscription rights may end before the expiration of the Subscription Period.

Participation of Certain Shareholders in the Offering and Underwriting

HTT Holding Oyj Abp ("HTT Holding") receives subscription right for the shares it has subscribed for in the Directed Issue on 14 August 2009. HTT Holding and certain other shareholders in the Company, who hold an aggregate of 45.1 per cent of the Company's share capital and 56.8 per cent of the votes attached to such shares after the Directed Issue, have undertaken to subscribe for their pro rata share of the Offer Shares in the Offering ("Subscription Commitment"). HTT Holding has also undertaken to subscribe for any Offer Shares that may not be subscribed for in the Offering, excluding those Offer Shares that are subject to the Subscription Commitment.

Offering Shares that Remain Unsubscribed for on the Basis of the Rights

Offer Shares that remain unsubscribed for on the basis of the Rights ("Unsubscribed Shares") may be directed to parties designated by the Board of Directors of the Company for subscription no later than on 24 September 2009. The Company aims to carry out the offering of the Unsubscribed Shares as follows:

1) Unsubscribed Shares will primarily be offered to Nordea Bank Finland Plc acting as the lead manager and bookrunner (the "Lead Manager") for subscription and to be sold further in public trading or otherwise to market price, whereby the Lead Manager will account the net proceeds (the selling price of the Unsubscribed Shares less the Subscription Price, the trading fee, and the asset transfer tax and other expenses, if any) to holders of unexercised Rights, if the sale will generate net proceeds. The net proceeds, if any, will be paid on or about 2 October 2009. A holder of Rights may refuse to accept the accounting of the net proceeds by notifying its account operator thereof during the Subscription Period; and

2) secondarily to HTT Holding in accordance with the underwriting.

The subscription and sale of Unsubscribed Shares are conditional upon the agreement between the Company and the Lead Manager, the terms and conditions of HTT Holding's underwriting, and market conditions, including the market price of Stockmann's share and the liquidity of the Company's shares, and there is no guarantee on subscription or sale. As a consequence, holders of unexercised Rights will not necessarily be refunded for their unexercised Rights. The Company, HTT Holding and the Lead Manager may take the aforementioned measures without the consent of a holder of Rights. The Lead Manager does not have an obligation to sell Unsubscribed Shares, and the Lead Manager may, subject to the consent by the Company, also approve offers that remain below market price with respect to Unsubscribed Shares.

The Board of Directors of the Company will finally approve the subscriptions and sales of Unsubscribed Shares.

Right to Withdraw the Subscription as Required by the Securities Market Act

Investors who have subscribed for and/or have submitted their subscription assignments for the Series A Offer Shares or Series B Offer Shares are entitled to cancel their subscriptions according to the Finnish Securities Market Act in the event that the offering circular published in connection with the Offering (the "Offering Circular") is supplemented due to an error or omission in the Offering Circular which could be of material importance to investors. The cancellation right may only be used if the investor has subscribed for and/or in the subscription assignment undertaken to subscribe for the Series A Offer Shares or Series B Offer Shares prior to the publication of the supplement to the Offering Circular and that the supplement is published between the time the Offering Circular was approved by the FIN-FSA and the time when trading with the interim shares representing the Series A Offer Shares or Series B Offer Shares begins. The procedure regarding the cancellation of the subscriptions will be announced together with any such supplement to the Offering Circular through a stock exchange release.

Public Trading of the Rights

Holders of Rights for Series A shares and Series B shares may sell their Rights at any time during the Subscription Period. Public trading of the Rights entitling to subscribe for Series A shares and Series B shares on the Helsinki Stock Exchange commences on or about 31 August 2009 and expires on or about 11 September 2009. The price of the Rights on the Helsinki Stock Exchange will be determined in accordance with the prevailing market situation. The Rights for Series A shares and Series B shares may be acquired or transferred by their holders by giving sell or purchase assignments to the holder's own custodian or account operator or through any securities broker.

The trading symbol of the Rights for Series A shares is STCASU0109 and the ISIN code is FI4000003702, and the trading symbol of the Rights for Series B shares is STCBSU0109 and the ISIN code is FI4000003728.

Payment for the Subscription

The Subscription Price of the Series A Offer Shares and Series B Offer Shares subscribed for in the Offering shall be paid in full at the time of submission of the subscription assignment in accordance with the instructions given by the subscription place or the relevant custodian or account operator. Subscription will be deemed effected only after the arrival of the subscription form at the Subscription Place and the payment of the Subscription Price in full.

Offer Shares subscribed for under the underwriting must be paid no later than on 24 September 2009.

Approval of the Subscriptions and Publishing of the Results

The Board of Directors of the Company will approve all subscriptions pursuant to or without the Rights for Series A shares and Series B shares made in accordance with these terms and conditions of the Offering, the Board resolutions and applicable laws and regulations. If the Board of Directors of the Company gives Unsubscribed Shares to parties designated by the Board for subscription, the Board of Directors may, at its discretion, approve or disapprove such subscriptions. No confirmation letter will be sent on approval or disapproval of subscriptions made.

The Company will publish the final results of the Offering in a stock exchange release on or about 24 September 2009.

Registration of the Offer Shares to the Book-entry Accounts and Trading of the Offer Shares

The Series A Offer Shares A and Series B Offer Shares subscribed for in the Offering will be issued in book-entry form in the book-entry securities system maintained by Euroclear Finland. The Series A Offer Shares and Series B Offer Shares subscribed for pursuant to the exercise of the Rights for Series A shares and Series B shares will be registered in the subscriber's book-entry account as interim shares representing the Offer Shares (Series A share: the ISIN code FI4000003686, the trading symbol STCASN0109, and Series B share: the ISIN code FI4000003710, the trading symbol STCBSN0109) after the subscription has been effected. Trading with such interim shares will commence on the first trading day following the expiration of the Subscription Period on 21 September 2009. The interim shares are freely transferable.

The interim Series A shares will be combined with the Company's existing Series A shares and the interim Series B shares into the Company's existing Series B shares (Series A share: the ISIN code FI0009000236, the trading symbol STCAS, and Series B share: the ISIN code FI0009000251, the trading symbol STCBV) when the Series A Offer Shares and Series B Offer Shares have been registered with the Trade Register. Such combination is expected to occur on or about 28 September 2009. The Offer Shares are freely transferable. The trading of the Offer Shares on the Helsinki Stock Exchange is expected to commence on or about 29 September 2009.

Shareholder Rights

The Series A Offer Shares A and Series B Offer Shares will entitle to full dividends declared by the Company, if any, and to other shareholder rights in the Company after the Series A Offer Shares and Series B Offer Shares have been registered with the Trade Register, on or about 28 September 2009.

Fees and Expenses

No transfer tax or service fee is payable on the subscription of the Series A Offer Shares and Series B Offer Shares. Account operators and securities brokers, who exercise assignments regarding the Rights, may charge a brokerage fee for these assignments in accordance with their own price lists. Account operators also charge a fee for the maintenance of the book-entry account and the deposit of shares.

Applicable Law and Dispute Resolution

The Offering shall be governed by the laws of Finland. Any disputes arising in connection with the Offering shall be settled by the court of competent jurisdiction in Finland.

Other Issues

The Board of Directors of the Company will resolve any other issues and practical matters relating to the issue of the Offer Shares and the Offering.

Further Information

For further information in the Offering Circular relating to the rights pertaining to the shares in the Company, see "Shares and Share Capital - Shareholder Rights"; and further information relating to taxation, see "Taxation".