STOCKMANN GROUP’S SALES IN AUGUST 2004

STOCKMANN plc STOCK EXCHANGE RELEASE September 10, 2004, at 9.30

STOCKMANN GROUP’S SALES IN AUGUST 2004

In August, the Stockmann Group’s sales amounted to EUR 131.2 million, down
4 per cent on August 2003. The decrease was attributable to downsizing
operations in the Vehicle Division and Hobby Hall. Sales by Seppälä and
the Department Store Division grew clearly.

The best sales growth was reported by Seppälä whose sales were up 18 per
cent. The division’s sales were up 13 per cent in Finland and 71 per cent
abroad. The strong sales growth abroad was contributed by the increased
number of stores in Latvia, the chain’s first store in Russia opened in
spring 2004, and the good sales growth in Estonia too. The Department
Store Division’s sales were up 8 per cent. The growth was 1 per cent in
Finland and 47 per cent abroad. The strong sales growth abroad was
contributed by the new department stores opened in Riga in October 2003
and in Moscow in April 2004 as well as the second Zara store opened in
Moscow in June 2004.

Sales by the Vehicle Division were down 20 per cent. The whole decrease is
due to the missing sales by the Volkswagen-Audi outlet in Herttoniemi
which was transferred to Kesko’s VV-Auto on July 1, 2004. Sales by the
rest of the division’s units grew by 5 per cent. Hobby Hall’s sales were
down 22 per cent. A significant part of this decrease is attributable to
the closing down of four stores during the autumn 2003 and the first part
of 2004 as well as the decrease in sales in Latvia and Lithuania due to
the tightened-up credit policy.

Sales figures in August and in January-August

August January-August January-
December
2004 2003 Ind. 2004 2003 Ind. 2003
Me Me 04/03 Me Me 04/03 Me

Department Store 55.0 54.3 101 442.7 418.9 106 706.7
Division, Finland*
Department Store 14.7 10.0 147 108.3 76.9 141 134.4
Division,
international
operations
Department Store 69.7 64.2 108 551.0 495.8 111 841.0
Division, total*
Vehicle Division 32.5 40.5 80 309.5 327.8 94 480.4
Hobby Hall 14.2 17.6 80 107.3 116.9 92 192.3
Division, Finland
Hobby Hall 2.4 3.5 69 20.9 25.9 81 43.5
Division,
international
operations
Hobby Hall 16.6 21.2 78 128.2 142.7 90 235.7
Division, total
Seppälä Division, 10.7 9.5 113 79.9 74.3 107 120.3
Finland
Seppälä Division, 1.6 0.9 171 9.2 5.7 163 10.0
international
operations
Seppälä Division, 12.3 10.4 118 89.1 80.0 111 130.3
total
Real estate + 0.1 0.1 0.6 0.6 0.9
others
Operations in 112.5 122.0 92 940.1 938.5 100 1 500.6
Finland, total*
International 18.7 14.4 129 138.4 108.4 128 187.8
operations, total
Stockmann total* 131.2 136.4 96 1 078.5 1 046.9 103 1 688.4

* The agency sales of newspaper and magazine subscriptions that were
divested in May have been eliminated from the sales figures for 2003.
These sales stand for EUR 10.2 million for the whole year 2003. The
consolidated sales growth regardless of this elimination was 2 per cent.

STOCKMANN plc

Hannu Penttilä
CEO

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