STOCKMANN PLC: EXERCISE OF 1997 OPTIONS

STOCKMANN plc STOCK EXCHANGE ANNOUNCEMENT February 20, 2004, 13.30 p.m.

STOCKMANN PLC: EXERCISE OF 1997 OPTIONS

A total of 20,300 Stockmann plc Series B shares with a par value of EUR
2.00 were subscribed for as a result of an exercise of the Company’s 1997
options. The corresponding increase in the Company’s share capital was EUR
40,600. As a result of the increase, Stockmann plc’s share capital now
totals EUR 105,299,282 and the total number of Series B shares in issue is
27,910,748. The shares were registered on February 20, 2004. They will be
listed on the Helsinki Exchanges together with the old shares on
April 5, 2004.

A total of 1,260,000 new Series B shares with a par value of EUR 2.00
could be subscribed with the 1997 options listed on the Helsinki Exchanges
main list. The subscription price was EUR 13.21 per share and the
subscription period expired on January 31, 2004. All 1997 options were
subscribed during the subscription period.

STOCKMANN plc

Hannu Penttilä
CEO

DISTRIBUTION
Helsinki Exchanges
Principal media