INVITATION TO THE ANNUAL GENERAL MEETING

KYRO CORPORATION  STOCK EXCHANGE RELEASE February 24, 2004 4.00 pm

INVITATION TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS


The shareholders of Kyro Corporation are invited to the Annual General
Meeting of Shareholders which is held on Wednesday, 17 March 2004, at
4 p.m. at Hilton Helsinki Kalastajatorppa, Kalastajatorpantie 1,
Helsinki.

The following matters shall be handled at the Meeting:

1.
Matters pertaining to the Annual General Meeting of Shareholders under
article 14 of the Articles of Association

2.
Authorisation of the Board of Directors to acquire the Company’s own
shares

The Board of Directors proposes that the Board of Directors be
authorised to acquire the Company's own shares using assets available
for distribution of profits, provided that the combined nominal value
of the shares of the Company together with the nominal value of the
shares already in the possession of the Company corresponds to a
maximum of 5 per cent of the Company’s total share capital at the
moment of acquisition.

According to the proposal the authorisation entitles the Board of
Directors to acquire the Company’s own shares in a manner and scope
determined by the Board of Directors for the purpose of using them as
consideration in possible business acquisitions, to finance
investments, or in other industrial arrangements or to be conveyed in
other ways or to be invalidated. The invalidation of the shares shall
require a decision of the General Meeting of Shareholders concerning
lowering of the share capital. The Company’s own shares would be
acquired in accordance with a decision of the Board of Directors
either through a purchase offer made to all shareholders on equal
terms in proportion to their shareholdings and at the same price
determined by the Board of Directors or, through public trading on the
Helsinki Exchanges at the market price of the shares at the time of
the acquisition.

The authorisation is valid for a period of one year beginning from the
decision of the General Meeting of Shareholders.

The authorisation given to the Board of Directors at the Annual
General Meeting of Shareholders on 19 March, 2003 to acquire the
Company's own shares, is proposed to be cancelled.


3.
Authorisation of the Board of Directors to convey the Company’s own
shares

The Board of Directors proposes that the Board of Directors be
authorised to decide on the conveyance of the Company’s own shares.
The authorisation would comprehend the conveyance of all such own
shares of the Company that are acquired on the basis of the
acquisition authorisation granted to the Board of Directors or that
are in the Company’s possession otherwise.

According to the proposal the authorisation entitles the Board of
Directors to decide to whom and in which order the own shares are
conveyed. The Board of Directors may convey the own shares to be used
as consideration in possible business acquisitions, to finance
investments and in other industrial arrangements in a way and scope
determined by the Board of Directors. The shares may also be conveyed
through public trading on the Helsinki Exchanges.

The shares may be conveyed at least at the market value of the shares
at the time of the conveyance. The shares may also be conveyed against
other compensation than money.

The authorisation is valid for a period of one year beginning from the
decision of the General Meeting of Shareholders.

The authorisation given to the Board of Directors at the Annual
General Meeting of Shareholders on 19 March, 2003 to convey the
Company's own shares, is proposed to be cancelled.

Right to participate

Shareholders entered in the Company’s shareholders register maintained
by the Finnish Central Securities Depository Ltd on 5 March 2004 are
entitled to attend the General Meeting of Shareholders.

Shareholders whose shares have not been transferred to the book-entry
system are also entitled to attend the Annual General Meeting of
Shareholders provided that they were registered prior to 22 December
1995 in the share register of Oy Kyro Ab. In such cases, shareholders
must present their share certificates at the Annual General Meeting of
Shareholders or otherwise demonstrate that title to the shares has not
been transferred to a book-entry account.

Enrolment

Shareholders who wish to attend the Annual General Meeting of
Shareholders must notify the Company of their intention to attend by
Friday, 12 March 2004 before 4 p.m., either in writing to Kyro
Corporation, 39200 Kyröskoski, Finland, or by telephone at +358 3 382
3072 (Terttu Uusitalo) or by email at terttu.uusitalo@kyro.fi. The
notification must reach the Company before the end of the notification
period. Shareholders are kindly requested to deliver any powers of
attorney to the above mentioned address before the end of the
notification period.

Documents available

The financial statements and the proposals of the Board of Directors
will be available for shareholders from 10 March 2004 at the head
office of the Company, Vehmaistenkatu 5, 33730 Tampere. The Annual
Report will be sent to shareholders in week 11.

Payment of the dividend

The Board of Directors proposes to the Annual General Meeting of
Shareholders that a dividend of EUR 0.15 per share and extra dividend
of EUR 0.15 will be paid for the fiscal year 2003, amounting in total
EUR 11.9 million. The dividend will be paid to a shareholder
registered in the Company’s shareholder register maintained by the
Finnish Central Securities Depository Ltd on the record date, 22 March
2004. The Board of Directors proposes to the Annual General Meeting
that the dividend be paid on 29 March 2004.


Helsinki, 4 February 2004


KYRO CORPORATION
Board of Directors

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