STOCKMANN GROUP’S SALES IN FEBRUARY 2004

STOCKMANN plc STOCK EXCHANGE RELEASE March 9, 2004, 15.30 p.m.

STOCKMANN GROUP’S SALES IN FEBRUARY 2004

In February, the Stockmann Group’s sales were EUR 120.3 million or on a
par with the previous year. The agency sales of magazine and newspaper
subscriptions which were disposed of at the end of May 2003 have been
eliminated from the Group’s comparison figures. In January-February 2003,
this business was EUR 8.9 million. The main part of the subscription
agency sales piled up in January-February 2003, so its effect on the
comparison figures for the Group sales is going to decrease in the course
of the year. A corresponding elimination has been made from the comparison
figure for the Department Store Division.

The best growth was reported by the Department Store Division whose sales
were up 10 per cent. Sales by Seppälä were up 8 per cent. Sales by the
Vehicle Division were down 10 per cent and sales by Hobby Hall declined by
13 per cent on the previous year. The sales growth of the international
operations of the Department Store Division was substantially contributed
by the Zara store opened in Moscow in February 2003 and the department
store opened in Riga, Latvia, in October 2003. Seppälä started operations
in Latvia in the autumn 2003. The sales development of the Vehicle
Division in February was affected by especially the fact that in 2003 the
Loyal Customer campaign for trade-in vehicles was carried out in February
while this year it took place in January. The decrease in Hobby Hall’s
sales figures is due to the discontinuing of four stores last autumn and
at the beginning of 2004 as well as the division’s tighter credit policy
in the Baltic markets.

Sales figures in January and January-February

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

Department Store 50.5 47.4 107 104.4 98.1 106 706.6
Division, Finland*
Department Store 11.5 9.0 127 22.5 17.4 129 134.4
Division,
international
operations
Department Store 62.0 56.4 110 126.9 115.6 110 841.0
Division, total*
Vehicle Division 32.6 36.3 90 78.4 74.0 106 480.4
Hobby Hall 14.0 15.6 90 28.8 31.2 92 192.3
Division, Finland
Hobby Hall 3.5 4.6 76 7.3 8.0 91 43.5
Division,
international
operations
Hobby Hall 17.5 20.2 87 36.1 39.2 92 235.7
Division, total
Seppälä Division, 7.3 7.0 106 18.2 16.9 108 120.3
Finland
Seppälä Division, 0.8 0.6 142 1.9 1.4 131 10.0
international
operations
Seppälä Division, 8.2 7.6 108 20.1 18.3 110 130.3
total
Real estate + 0.1 -0.1 0.1 0.1 0.9
others
Operations in 104.5 106.2 98 229.9 220.4 104 1 500.6
Finland, total*
International 15.8 14.2 111 31.7 26.9 118 187.8
operations, total
Stockmann total* 120.3 120.4 100 261.6 247.2 106 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. As
for January-February 2003, these sales stand for EUR 8.9 million, and as
for the whole year 2003, for EUR 10.2 million. The consolidated sales
growth regardless of this elimination was 2.2 per cent.

STOCKMANN plc

Hannu Penttilä
CEO

DISTRIBUTION
Helsinki Exchanges
Principal media