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INCREASE IN HK RUOKATALO?S SHARE CAPITAL

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HK Ruokatalo Oyj  STOCK EXCHANGE ANNOUNCEMENT 25 Feb 2003 at 1.20pm


INCREASE IN HK RUOKATALO’S SHARE CAPITAL

Tranches of HK Ruokatalo’s 1996 convertible capital note was converted
into shares between 2 and 29 January 2003, increasing the number of
the company’s A-Shares by 2,122,320. The corresponding increase of EUR
3,607,944.00 in subscribed capital has today been entered in the
Finnish Trade register. As a result of the increase HK Ruokatalo’s
share capital rose from EUR 39,206,216.00 to EUR 42,814,160.00.

Share capital by share class before the increase
              No of shares          %     No of votes         %
A-Ahares        17,662,480      76.59      17,662,480     14.06
K-Shares         5,400,000      23.41     108,000,000     85.94
Total           23,062,480     100.00     125,662,480    100.00

Share capital by share class subsequent to the increase
              No of shares          %     No of votes         %
A-Shares        19,784,800      78.56      19,784,800     15.48
K-Shares         5,400,000      21.44     108,000,000     84.52
Total           25,184,800     100.00     127,784,800    100.00

Each A-Share conveys 1 vote. K-Shares are not listed and each K Share
conveys 20 votes. All shares have a nominal value of EUR 1.70. The
shares joined the book-entry securities system on 31 October 1997.

The new shares obtained through conversion are entered on the book-
entry accounts of the shareholders as a new series. The first dividend
is payable on new A-Shares for the year 2003.

An application will be made to admit the new shares for trading on the
Helsinki Exchanges after the record date for the payment of dividend
for the year 2002 or about 15 April 2003.

HK Ruokatalo issued a FIM 62.5 million (EUR 10.5 million) convertible
capital note to professional investors 30 December 1996. The loan was
a subordinated capital note and had a term of ten years. The note was
originally due to mature at the end of 2006 but on 2 January 2003 HK
Ruokatalo decided to accelerate the schedule and repay the note
prematurely. Each of the 62,500 notes issued in the loan originally
had a nominal value of FIM 1,000 (EUR 168.18793). All of the notes
have now been converted into shares.

HK Ruokatalo Oyj



Matti Perkonoja
Chief financial officer


DISTRIBUTION: Helsinki Exchanges, Internet: www.hk-ruokatalo.fi

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