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LÄNNEN TEHTAAT PLC ANNUAL GENERAL MEETIN

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LÄNNEN TEHTAAT PLC  STOCK EXCHANGE RELEASE MARCH 24, 2004 at 3;45 p.m.


LÄNNEN TEHTAAT PLC ANNUAL GENERAL MEETING

The Annual General Meeting on March 24, 2004 approved the financial
statements, discharged those accountable from liability and decided to
distribute a dividend of EUR 0.65 per share.

MATTERS DEALT WITH BY THE ANNUAL GENERAL MEETING

FINANCIAL STATEMENTS
The Annual General Meeting approved the Company’s and the Group’s
profit and loss accounts and balance sheets, and discharged the
members of the Board of Directors, the members of the Supervisory
Board and the President from liability for the financial year 2003.

The Annual General Meeting decided to distribute as dividend EUR 0.65
per share. The record date is March 29, 2004 and the dividend payment
date April 5, 2004.

ELECTION OF THE MEMBERS OF THE SUPERVISORY BOARD AND THE AUDITORS
Antti Bärlund, Heikki Halkilahti, Jussi Hantula, Börje Helenelund, Tom
Liljeström, Samu Pere, Esa Ruohola and Mikko Soro were re-elected to
the Supervisroy Board.

Kauko Lehtonen, Authorized Public Accountant, and PricewaterCoopers Oy
Authorized Public Accountants with Hannu Pellinen, Authorized Public
Accountant as responsible auditor, were re-elected as auditors.

RAISING THE SHARE CAPITAL
The Annual General Meeting decided to authorize the Board of Directors
to raise share capital by new share issues and/or to issue a
convertible bond in one or more instalments. The authorization is
valid one year, starting from the date of the AGM decision. In a new
share issue and/or an issue through a convertible bond, the share
capital can be raised by a maximum total of EUR 1,222,514 in such a
way that a maximum of 611,257 shares with a nominal value of EUR 2.00
are offered for subscription.

The Board of Directors was authorized to diverge from the
shareholders’ pre-emptive subscription right to new shares and/or to
convertible bonds if the company’s financial status so requires. The
authorization also covers the right to decide on the subscription
prices, those entitled to subscribe shares,  subscription terms, terms
concerning a convertible bond and other terms and aspects related to a
new share issue and/or issue of a convertible bond.

SURRENDERING THE COMPANY’S OWN SHARES
The Annual General Meeting decided to authorize the Board of Directors
to decide to surrender the company’s own shares. The authorization
concerns the 65,000 company shares acquired using the authorization
granted by the AGM on April 5, 2001. The Board is authorized to decide
to whom and in what order the company’s own shares are surrendered.
The shares can be surrendered in one or more tranches. The Board may
decide to surrender the Company’s own shares otherwise than in
proportion to the pre-emptive right of shareholders.

The shares can be surrendered in one or more tranches, as decided by
the Board, in connection with corporate acquisitions or other
corporate arrangements or for some other similar purpose that the
Board may consider suitable. Surrender of the shares can also be
carried out via public trading on Helsinki Exchanges.

The share price is the current value at the time of surrender,
determined in public trading on Helsinki Exchanges. The shares may
also be surrendered against other than monetary consideration. The
authorization is valid for one year, starting from the date of the AGM
decision.


LÄNNEN TEHTAAT PLC

Erkki Lepistö
President & CEO


More details: Erkki Lepistö (President & CEO), tel. +358 2 8397 4001

Distribution:
Helsinki Exchanges
Main media
www.lannen.fi

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