THE GOTHENBURG ADMINISTRATIVE COURT OF APPEAL HAS QUASHED THE DECISION BY THE COUNTY ADMINISTRATIVE COURT ON THE ELIGIBILITY FOR TAX DEDUCTION IN SWEDEN, OF LOSSES INCURRED BY STOCKMANN SUBSIDIARY LINDEX'S

STOCKMANN plc
Company Announcement
20.5.2008 at 13.30

THE GOTHENBURG ADMINISTRATIVE COURT OF APPEAL HAS QUASHED THE DECISION BY
THE COUNTY ADMINISTRATIVE COURT ON THE ELIGIBILITY FOR TAX DEDUCTION IN
SWEDEN, OF LOSSES INCURRED BY STOCKMANN SUBSIDIARY LINDEX'S OPERATIONS IN
GERMANY

The Gothenburg Administrative Court of Appeal has quashed the favourable
decisions, obtained by Stockmann's subsidiary AB Lindex in the County
Administrative Court, which concern the eligibility for deducting losses
of approximately EUR 70 million, incurred by the Lindex Group's German
company, in Swedish taxation during the years 2004/2005 and 2005/2006. AB
Lindex will appeal the Administrative Court of Appeal decision to the
Supreme Administrative Court.

According to the decision by the Administrative Court of Appeal, Lindex
must refund approximately EUR 21 million of taxes and interests to the tax
authorities. The tax to be refunded has no effect on the profit of the
Stockmann Group. Stockmann will record the refunded tax with interest as a
charge against equity at the time of acquisition of Lindex.

Additional information:
CFO Pekka Vähähyyppä, tel. +358 9 121 3351


STOCKMANN plc

Hannu Penttilä
CEO


DISTRIBUTION
OMX Nordic Exchange Helsinki
Principal media