Subscription for Kesko Corporation B shares with warrants and application for listing as new B shares

A total of 78,100 Kesko Corporation B shares were subscribed for with the B and C warrants issued under Kesko Corporation’s year 2000 stock option scheme during 1-15 July 2004. According to the terms of the scheme, the subscription price with B warrants is EUR 9.87 and with C warrants EUR 8.11 per share. An application will be made for including the new B shares now subscribed in the “Kesko B uudet” series listed earlier this year on the main list of the Helsinki Exchanges.

Applying for listing the new B shares on a separate “Kesko B uudet” series on the stock exchange list is in order to comply with paragraph 3.5 of the terms of the year 2000 option scheme stipulating that B shares subscribed for with B or C warrants during each year entitle to dividends for that financial year during which they were subscribed for and paid. The corresponding increase in share capital is planned to be entered in the Trade Register on 4 August 2004. The plan is to apply for listing the new B shares on the stock exchange list as from 5 August 2004.

During the period from 21 April to 30 June 2004 no shares were subscribed for with warrants. The previous time that Kesko Corporation’s share capital was increased was in May to correspond to share subscriptions made with warrants during 1-24 April 2004 (stock exchange notification of 4 May 2004).

The terms and conditions of the year 2000 warrant scheme were published in a stock exchange release on 10 April 2000.

Further information:
General Counsel Anne Leppälä-Nilsson, telephone +358 1053 22347.

KESKO CORPORATION
Corporate Communications

Erkki Heikkinen
Senior Vice President

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