INTERIM REPORT JANUARY 1 - JUNE 30, 2002

The Stockmann Group's profit before extraordinary items improved
substantially and was EUR 22.5 million (EUR 12.2 million in 2001),
though sales diminished by 0.7 per cent and were EUR 740.3 million (EUR
745.5 million). Full-year sales are estimated to be about EUR 1.6
billion and profit before extraordinary items is set to improve markedly
on 2001.

Sales and result

The Stockmann Group's sales in the first half of 2002 were EUR 740.3
million, down EUR 5.2 million and 0.7 per cent on the sales figure in
the comparison period. Net turnover was EUR 616.8 million, a decrease of
0.5 per cent on net turnover in the comparison period.

The relative gross margin on operations improved in all the divisions
and was 32.0 per cent (29.6 per cent). The Group's gross margin grew by
EUR 14.0 million to EUR 197.2 million. Fixed costs increased by EUR 6.2
million...