HSE: EXEL PLC: SHARES SUBSCRIBED WITH WARRANTS
EXCHANGE NOTICE 518/2004, 20 December 2004 SHARESEXEL PLC: SHARES SUBSCRIBED WITH WARRANTS A total of 137 600 Exel Plc's shares have been subscribedwith the Exel Plc's warrants attached to the warrantprogramme 1998 and 2001. The shares will be traded on theHelsinki Stock Exchange as old shares as of 21 December2004. Identifiers of Exel Plc's share: Trading code: EXL1VISIN code: FI0009007306Orderbook id: 24265Number of shares: 5 520 800 HELSINKI STOCK EXCHANGEJanne SeppänenVice President Surveillance Finland