STOCKMANN plc: EXERCISE OF LOYAL CUSTOME

STOCKMANN plc STOCK EXCHANGE ANNOUNCEMENT June 30, 2003, 9.40 a.m.

STOCKMANN plc: EXERCISE OF LOYAL CUSTOMER SHARE OPTIONS

During the share subscription period from May 2, 2003, to May 31, 2003, a
total of 5,580 Stockmann plc Series B shares with a par value of EUR 2.00
were subscribed for as a result of an exercise of its Loyal Customer share
options. The corresponding increase in the Company’s share capital was EUR
11,160. As a result of the increase, Stockmann plc’s share capital now
totals EUR 102,779,282 and the total number of Series B shares in issue is
26,560,748. The shares were registered on June 30, 2003, and they will be
listed on the Helsinki Exchanges together with the old shares on July 1,
2003.

In the spring 2000, a total of 1,382,524 Stockmann plc’s Loyal Customer
share options were subscribed. As a result of the exercise of the Loyal
Customer share options not yet exercised, a total of 1,375,860 Series B
shares with a par value of EUR 2 can be subscribed, deviating from the
subscription right of the shareholders. The corresponding increase in the
Company’s share capital can amount to EUR 2,751,720 at the most, and as a
result of this, the Company’s share capital can total EUR 105,531,002 at
the most. The subscription price is EUR 15.70 less dividends payable
annually after April 1, 1999. This year the subscription price was EUR
12.16. The future subscription periods for shares with the Loyal Customer
share options are May 2 – May 31, 2004 and May 2 – May 31, 2005.

STOCKMANN plc

Hannu Penttilä
Managing Director

DISTRIBUTION
Helsinki Exchanges
Principal media