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

During the period from 1 April to 20 April 2004, a total of 536,190 Kesko Corporation’s B shares were subscribed for with B and C warrants under Kesko Corporation’s year 2000 stock option scheme. 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. Listing the new subscribed B shares on the main list of the Helsinki Exchanges as new B shares will be applied for.

Applying for listing the new B shares on the stock exchange as new shares, is in compliance with paragraph 3.5 of the terms of the company’s year 2000 option scheme, stating that B shares subscribed with B or C warrants entitle to dividend for the financial year during which they were subscribed and paid for. An increase in the share capital as a consequence of these subscriptions is planned to be entered in the Trade Register on 4 May 2004. According to plan, listing the new subscribed B shares on the main list of the Helsinki Exchanges as new B shares will be applied for as from 5 May 2004.

During the period from 1 January to 31 March 2004 no shares were subscribed for with warrants. The previous time that Kesko Corporation’s share capital was increased was in February to correspond to share subscriptions made with warrants during the period from 11 December to 31 December 2003 (stock exchange notification of 6 February 2004).

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

Further information:
Corporate Counsel Kyösti Parttimaa, telephone +358 1053 22602.

KESKO CORPORATION
Corporate Communications

Erkki Heikkinen
Senior Vice President

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