Kesko Oyj - Company Announcement

Transfer of Kesko's employee pension insurances to Ilmarinen completed

KESKO CORPORATION STOCK EXCHANGE RELEASE 15.02.2012 AT 13.00 1(1)

The Financial Supervisory Authority has today given its permission to carry out
the second phase of the transfer of the Kesko Group companies' statutory pension
insurance liability portfolio, agreed between the Kesko Pension Fund and
Ilmarinen Mutual Pension Insurance Company in December 2009, with effect from 1
January 2012. The second phase of the transfer of the insurance portfolio and
pension liability now carried out concerns some 5,600 employees of the Kesko
Group.

The second transfer of the insurance liability portfolio now carried out is part
of the plan announced on 30 December 2009 to transfer the management of Kesko's
statutory pension provision and insurance portfolio in two phases from the Kesko
Pension Fund to Ilmarinen.

The transfer now carried out will not have a significant impact on Kesko's
profit for the first quarter.

The Kesko Pension Fund has had surplus assets with respect to the pension
liabilities now transferred. The surplus assets planned to be returned later
this year by the Kesko Pension Fund to employers with an insurance policy with
it are expected to generate a positive cash flow to Kesko. The surplus to be
returned has been included in Kesko's consolidated statement of financial
position as a pension asset.

Returning the surplus is conditional on the approval of the Financial
Supervisory Authority.

The transfer of Kesko's statutory pension insurance provision and insurance
portfolio has been previously announced in a stock exchange release on 30
December 2009 and 1 September 2010.

Further information:
Riitta Laitasalo, Senior Vice President, Human Resources, Kesko Corporation,
tel. +358 10 53 22060
Jukka Erlund, Senior Vice President, CFO, Kesko Corporation, tel.
+358 10 53 22113


Kesko Corporation



Merja Haverinen
Senior Vice President, Corporate Communications and Responsibility


DISTRIBUTION
NASDAQ OMX Helsinki
Main news media
www.kesko.fi


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