STOCKMANN plc: EXERCISE OF LOYAL CUSTOME

STOCKMANN plc STOCK EXCHANGE ANNOUNCEMENT August 30, 2004, at 12.15

STOCKMANN plc: EXERCISE OF LOYAL CUSTOMER SHARE OPTIONS

During the share subscription period from May 2, 2004, to May 31, 2004, in
addition to the shares announced in the Stock Exchange Announcement of
June 30, 2004, a total of 3,151 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. The approval of these
subscriptions was delayed due to deficiencies in them. The corresponding
increase in the Company’s share capital was EUR 6,302. As a result of the
increase, Stockmann plc’s share capital now totals 106,499,820 and the
total number of Series B shares in issue is 28,674,017. The shares were
registered on August 30, 2004, and they will be listed on the Helsinki
Exchanges together with the old shares on August 31, 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 775,591 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 1,551,182 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