INCREASING KESKO'S SHARE CAPITAL ON THE BASIS OF THE 1996 STOCK OPTION SCHEME

The 907,000 new Kesko Corporation B shares subscribed between 1.12.1999–30.4.2002 under the 1996 stock option scheme have been entered in the Trade Register. The book counter value of B share is EUR 2.00 and its price, when subscribed under the stock option scheme, was EUR 10.01. As a result of this subscription, Kesko Corporation's registered share capital increases by EUR 1,814,000 to a total of EUR 182,240,800.

The share capital increase was entered in the Trade Register on 21 May 2002. As a result of the share subscriptions, Kesko Corporation obtained a total of EUR 9,079,070 of share capital, of which the issue premium accounts for EUR 7,265,070. The new B shares will be included on the HEX Helsinki Exchange's main list for public trading together with the old B shares on 22 May 2002. The new B shares will give right to dividend as from the 2002 financial period. Other shareholder rights are valid as this date.

After the new shares were entered in the Trade Register, the total number of B shares is 59,383,393 and the combined number of A and B shares is 91,120,400. Each A share entitles the holder to ten votes and each B share to one vote.

The stock options are based on the decision made by Kesko Corporation's Annual General Meeting on 15 April 1996 to issue bonds with warrants to the Kesko Corporation management. The number of stock options resulting from these subscriptions amounted to a total of 1,325,000. One stock option entitled to the subscription of one Kesko Corporation B share between the period of 1.12.1999-30.4.2002. On 28 October 1999 Financial Supervision granted Kesko Corporation a special permission not to publish a prospectus related to the listing of these B shares.

For further information, please contact Kyösti Parttimaa, Corporate Counsel, tel. +358 1053 22602.

Kesko Corporation
Corporate Communications

Erkki Heikkinen
Senior Vice President

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