STOCKMANN plc: EXERCISE OF LOYAL CUSTOME

STOCKMANN plc STOCK EXCHANGE ANNOUNCEMENT June 30,2004, at 14:00

STOCKMANN plc: EXERCISE OF LOYAL CUSTOMER SHARE OPTIONS

During the share subscription period from May 2, 2004, to May 31, 2004,
a total of 597,118 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
Loyal Customer share options. 21,000 Loyal Customers exercised their
subscription right. The corresponding increase in the Company’s share
capital was EUR 1,194,236. As a result of the increase, Stockmann plc’s
share capital now totals 106,493,518 and the total number of Series B
shares in issue is 28,670,866. The shares were registered in June 30,
2004, and they will be listed on the Helsinki Exchanges together with
the old shares on July 1, 2004.

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 778,742 Series B

shares with a par value of EUR 2.00 can be subscribed, deviating from
the subscription right of the shareholders. The corresponding increase
in the Company’s share capital can amount to EUR 1,557,484 at the most,
and as a result from this, the Company’s share capital can total EUR
108,051,002 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 10.81. The remaining subscription period for
shares with the Loyal Customer share options is May 2, 2005 – May 31,
2005.

STOCKMANN plc

Hannu Penttilä
CEO

DISTRIBUTION
Helsinki Exchanges
Principal media