Kesko Corporation’s Board of Directors proposes an additional dividend of 1.00 euro

Kesko Corporation’s Board of Directors has decided at its meeting held on 21 September 2004 to convene an Extraordinary General Meeting on Tuesday, 9 November 2004 at 13.00. The Board of Directors proposes that an additional dividend of EUR 1.00 per A share and an old B share be distributed on the basis of the balance sheet adopted for the financial year ended on 31 December 2003.

Shares subscribed for with the B and C warrants referredtoin the terms and conditions of Kesko Corporation’s year 2000 stock option scheme do not, however, entitle to dividends until from the financial year during which they are subscribed and paid for. Therefore an additional dividend is not proposed for Kesko Corporation’s new B shares subscribed for with B or C warrants during the year 2004 and listed on the main list of the Helsinki Stock Exchange as the “Kesko B uudet” series.

An additional dividend reduces the subscription prices for shares of B and C warrants of Kesko Corporation’s year 2000 stock option scheme and the subscription prices for shares of D and E warrants of the year 2003 stock option scheme in accordance with the terms and conditions of the schemes.

If the Extraordinary General Meeting approves the Board of Directors’ proposal for the distribution of an additional dividend, the dividend will be paid to company shareholders included in the shareholder register kept by the Finnish Central Securities Depository Ltd on 12 November 2004, the record date for payment of dividend. The Board of Directors proposes to the Extraordinary General Meeting that the additional dividend be paid on 19 November 2004.

Helsinki, 21 September 2004

KESKO CORPORATION’S BOARD OF DIRECTORS

Further information: CFO Juhani Järvi, tel. +358 1053 22209

KESKO CORPORATION
Corporate Communications

Erkki Heikkinen
Senior Vice President
tel. +358 1053 22721, +358 500 615 548

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