SanomaWSOY - Company Announcement

SanomaWSOY Applies for Listing of the 2004A Stock Options on the Helsinki Stock Exchange

SanomaWSOY Corp. Stock Exchange Release 2 Aug 2007 at 15:45

SanomaWSOY Corporation applies for listing of the 2004A stock options
on the Helsinki Stock Exchange as of 1 November 2007.

The total number of outstanding 2004A stock options is 1,080,800.
Each 2004A stock option entitles its holder to subscribe for one (1)
SanomaWSOY Corporation share. In total, the outstanding 2004A stock
options entitle holders to subscribe for 1,080,800 shares. The
present share subscription price with 2004A stock option is EUR 17.27
per share. The annual dividend will be deducted from the subscription
price.

The share subscription period for 2004A stock options will begin on 1
November 2007 and end on 30 November 2010.

SanomaWSOY announced the Stock Option Scheme 2004 on 8 November 2004.

SANOMAWSOY CORPORATION

Matti Salmi
Senior Vice President
Finance and Administration

Additional information: SanomaWSOY's Group Communications, tel. +385
105 19 5062 or ir@sanomawsoy.fi

SanomaWSOY is the leading media group in the Nordic region operating
in versatile fields of media in over 20 European countries. The Group
has five divisions: Sanoma Magazines, Sanoma, SanomaWSOY Education
and Books, SWelcom, and Rautakirja. In 2006, the Group employed over
18,000 people and its net sales were some EUR 2.7 billion.

ENCL: SanomaWSOY Corporation Stock Option Scheme 2004

SANOMAWSOY CORPORATION STOCK OPTION SCHEME 2004
The Board of Directors of SanomaWSOY Corporation ("SanomaWSOY" or"Company") (Board of Directors) has on 8 November 2004 resolved, by
authorization of the Annual General Meeting of Shareholders on 30
March 2004, that stock options be issued to the senior management of
SanomaWSOY and its subsidiaries ("SanomaWSOY Group") and to Lastannet
Oy ("Lastannet"), a wholly owned subsidiary of SanomaWSOY on the
following terms and conditions:

I  STOCK OPTION TERMS AND CONDITIONS
1. Number of Stock Options
The number of stock options issued shall be 4,500,000, which entitle
to subscribe for a total of 4,500,000 Series B shares* in SanomaWSOY.

2. Stock Options
Of the stock options 1,500,000 shall be marked with the symbol 2004A,
1,500,000 shall be marked with the symbol 2004B and 1,500,000 shall
be marked with the symbol 2004C. The persons to whom stock options
shall be issued shall be notified in writing by the Company about the
offer of stock options. The stock options shall be delivered to the
recipient when he or she has accepted the offer of the Company. Stock
option certificates shall, upon request, be delivered to the stock
option owner at the start of the relevant share subscription period
unless the stock options have been transferred to the book-entry
securities system.

3. Right to Stock Options
The stock options shall, with deviation from the shareholders'
pre-emptive right to subscription, be issued to the senior management
of the SanomaWSOY Group and to Lastannet, a wholly owned subsidiary
of SanomaWSOY Corporation. It is proposed that the shareholders'
pre-emptive right to subscription be deviated from since the stock
options are intended to form part of the Group's incentive and
commitment program for the senior management.

Upon issue all stock options 2004B and 2004C shall be granted to
Lastannet. Lastannet can distribute stock options 2004B and 2004C to
the senior management employed by or to be recruited by the
SanomaWSOY Group by the resolution of the Board of Directors of
SanomaWSOY.

4. Distribution of Stock Options
The Board of Directors shall decide upon the distribution of the
stock options. Lastannet shall be granted stock options to such
extent that the stock options are not distributed to the senior
management of the SanomaWSOY Group. The Board of Directors of
SanomaWSOY shall later on decide upon the further distribution of the
stock options granted to the subsidiary, to the senior management
employed by or to be recruited by the SanomaWSOY Group.

5. Transfer of Stock Options and Obligation to Offer Stock Options
The stock options are freely transferable, when the relevant share
subscription period has begun. The Company shall hold the stock
options on behalf of the stock option owner until the beginning of
the share subscription period. The stock option owner has the right
to acquire the possession of the stock options when the relevant
share subscription period begins. Should the stock option owner
transfer his/her stock options, such person is obliged to inform the
Company about the transfer without delay. The Board of Directors may,
as an exception to the above, permit the transfer of a stock option
also before such date.

Should a stock option owner cease to be employed by or in the service
of the SanomaWSOY Group, for any other reason than the death of an
employee, or the statutory retirement of an employee in compliance
with the employment contract, or the retirement of an employee
otherwise determined by the Company, such person shall without delay
offer to the Company, free of charge, the stock options for which the
share subscription period in accordance with Section II.2 had not
begun at the last day of such person's employment or service. The
Board of Directors can, however, in the above-mentioned cases, decide
that the stock option owner is entitled to keep such stock options or
a part of them, which are under offering obligation.

Regardless of whether the stock option owner has offered his/her
stock options to the Company or not, the Company is entitled to
inform the stock option owner in writing that the stock option owner
has lost his/her stock options on the basis of the above-mentioned
reasons. Should the stock options be transferred to the book-entry
securities system, the Company has the right, whether or not the
stock options have been offered to the Company, to request and get
transferred all the stock options, for which the share subscription
period had not begun, from the stock option owner's book-entry
account to the book-entry account appointed by the Company without
the consent of the stock option owner. In addition, the Company is
entitled to register transfer restrictions and other respective
restrictions concerning the stock options to the stock option owner's
book-entry account without the consent of the stock option owner.

II  SHARE SUBSCRIPTION TERMS AND CONDITIONS
1. Right to Subscribe for New Shares
Each stock option entitles its owner to subscribe for one (1) Series
B share* in SanomaWSOY. The book equivalent value of each share is
0.43 euro upon issue of stock options. As a result of the
subscriptions the share capital of SanomaWSOY may be increased by a
maximum of 1,935,000 euro and the number of shares by a maximum of
4,500,000 new Series B shares*.

Lastannet, as a subsidiary of SanomaWSOY, shall not be entitled to
subscribe for shares in SanomaWSOY on the basis of the stock options.

2. Share Subscription and Payment
The share subscription period shall be
- for stock option 2004A: 1 November 2007 - 30 November 2010,
- for stock option 2004B: 1 November 2008 - 30 November 2011 and
- for stock option 2004C: 1 November 2009 - 30 November 2012.

The share subscription shall take place at the head office of
SanomaWSOY or possibly at another location to be determined later.
The subscriber shall transfer the respective stock option
certificates with which he/she subscribes for shares, or in case the
stock options have been transferred to the book-entry securities
system, the stock options with which shares have been subscribed for
shall be deleted from the subscriber's book-entry account. Payment of
shares subscribed shall be effected upon subscription to the bank
account appointed by the Company. The Company shall decide on all
measures concerning the share subscription.

3. Share Subscription Price
The share subscription price shall be:
- for stock option 2004A the trade volume weighted average quotation
of the SanomaWSOY Series B share in the Helsinki Exchanges between 1
November and 31 December 2004 with an addition of 20%,
- for stock option 2004B the trade volume weighted average quotation
of the SanomaWSOY Series B share in the Helsinki Exchanges between 1
November and 31 December 2005 with an addition of 20% and
- for stock option 2004C the trade volume weighted average quotation
of the SanomaWSOY Series B share** in the Helsinki Exchanges between
1 November and 31 December 2006 with an addition of 20%.

From the share subscription price of stock options shall, as per the
dividend record date, be deducted the amount of the dividend decided
after the end of the period for determination of the share
subscription price but before share subscription. The share
subscription price shall nevertheless always amount to at least the
book equivalent value of the share.

4. Registration of Shares
Shares subscribed for and fully paid shall be registered in the
book-entry account of the subscriber.

5. Shareholder Rights
Dividend rights of the shares and other shareholder rights shall
commence when the increase of the share capital has been entered into
the Trade Register.

6. Share Issues, Convertible Bonds and Stock Options before Share
Subscription
Should the Company, before the share subscription, increase its share
capital through an issue of new shares, or issue of new convertible
bonds or stock options, a stock option owner shall have the same
right as or an equal right to that of a shareholder. Equality is
reached in the manner determined by the Board of Directors by
adjusting the number of shares available for subscription, the share
subscription price or both of these.

Should the Company, before the share subscription, increase its share
capital by way of a bonus issue, the subscription ratio shall be
amended so that the ratio to the share capital of shares to be
subscribed for by virtue of stock options remains unchanged. If the
number of shares that can be subscribed for by virtue of one stock
option should be a fraction, the fractional part shall be taken into
account by reducing the share subscription price.

7. Rights in Certain Cases
If the Company reduces its share capital before the share
subscription, the subscription right accorded by the terms and
conditions of the stock options shall be adjusted accordingly as
specified in the resolution to reduce the share capital.

If the Company is placed in liquidation before the share
subscription, the stock option owner shall be given an opportunity to
exercise his/her subscription right before the liquidation begins
within a period of time determined by the Board of Directors.

If the Company resolves to merge in another company as the company
being acquired or in a company to be formed in a merger, or if the
Company resolves to be divided, the stock option owner shall, before
the merger or division, be given the right to subscribe for the
shares with his/her stock options within the period of time
determined by the Board of Directors. After such date no subscription
right shall exist. In the above situations the stock option owner has
no right to require that the Company redeems the stock options from
him/her for market value.

If the Company, after the beginning of the share subscription period,
resolves to acquire its own shares
by an offer made to all shareholders, the stock option owners shall
be made an equivalent offer. In other cases acquisition of the
Company's own shares does not require the Company to take any action
in relation to the stock options.

In case, before the end of the share subscription period, a situation
as referred to in Chapter 14 Section 19 of the Finnish Companies Act,
in which a shareholder possesses over 90% of the shares of the
Company and therefore has the right and obligation to redeem the
shares of the remaining shareholders, or as referred to in Chapter 6
Section 6 of the Finnish Securities Market Act, arise, the stock
option owners shall be entitled to use their right of subscription by
virtue of the stock option within a period of time determined by the
Board of Directors.

If the number of the Company's shares is changed, while the share
capital remains unchanged, the share subscription terms and
conditions of the stock options shall be amended so that the relative
proportion of shares available for subscription with the stock
options to the total number of the Company's shares, as well as the
share subscription price total, remain the same.

Converting the Company from a public company into a private company
shall not affect the terms and conditions of the stock options.

III  OTHER MATTERS
The laws of Finland shall be applied to these terms and conditions.
Disputes arising in relation to the stock options shall be settled by
arbitration in accordance with the Arbitration Rules of the Central
Chamber of Commerce.

The Board of Directors may decide on the transfer of the stock
options to the book-entry securities system at a later date and on
the resulting technical amendments to these terms and conditions,
including those amendments and specifications to the terms and
conditions, which are not considered essential. Other matters related
to the stock options are decided on by the Board of Directors. The
stock option documentation is kept available for inspection at the
head office of SanomaWSOY.

The Company is entitled to withdraw the stock options which have not
been transferred, or with which shares have not been subscribed for,
free of charge, if the stock option owner acts against these terms
and conditions, or against regulations given by the Company on the
basis of these terms and conditions, or against applicable law, or
against regulations by authorities.

The stock option owner is liable for his/her tax consequences arising
from participating in the stock option scheme.

These terms and conditions have been made in Finnish and in English.
In case of any discrepancy between the Finnish and English terms and
conditions, the Finnish terms and conditions are decisive.

* SanomaWSOY's share series A and B were combined on 17 May 2006.
Each stock option entitles its holder to subscribe for one SanomaWSOY
share.
** After the combination of share series on 17 May 2006, the
quotation will be that of SanomaWSOY's share.