Kesko Oyj - Company Announcement

Kesko receives a non-recurring gain of €103 million on structured property lease agreement

KESKO CORPORATION STOCK EXCHANGE RELEASE 11.02.2008 AT 15.15 1(1)

Kesko receives a non-recurring gain of €103 million on structured property
lease agreement 

Kesko Corporation has waived the purchase option included in the lease
agreements made with Nordisk Renting Oy in 2001 and 2002. RBS Nordisk Renting
will pay Kesko a compensation of €74.2 million for the purchase option. The
previous agreements were financial leasing agreements by their nature and
cancelling them will generate a non-recurring income of €26.5 million. In
conjunction, the lease agreements were updated to correspond with the current
market situation. 

Kesko Corporation has also today sold the property of K-citymarket Pieksämäki
to RBS Nordisk Renting. Kesko Food Ltd has agreed to lease it under a long-term
agreement and updated the lease agreement concerning eight other food store
properties located in various parts of Finland. 

The impact of the lease agreement arrangement and the property sale on the
total operating profit of Kesko Food and Kesko Corporation for the first
quarter will be €103 million, which will be treated as a non-recurring item.
The arrangement will have no effect on the future outlook presented in the
Kesko Group's financial statements. 

Further information:
Terho Kalliokoski, President, Kesko Food Ltd, tel. +358 1053 22204
Arja Talma, Senior Vice President, CFO, Kesko Corporation, tel. +358 1053 22113


Kesko Corporation



Paavo Moilanen
Senior Vice President, Corporate Communications and Responsibility 


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