Stock exchange release
February 3, 2004
FISKARS CORPORATION'S BOARD OF DIRECTORS
FISKARS CORPORATION'S BOARD OF DIRECTORS' PROPOSALS TO THE ORDINARY GENERAL MEETING ON 16 MARCH 2004 Fiskars Corporation's Board of Directors proposes: 1. that the Board of Directors be authorized to acquire within the period of one year from 16 March 2004 a maximum of 1,869,803 of the company's own A shares and a maximum of 805,618 K shares in a proportion deviating from the shareholders' existing proportionate holdings at share prices quoted on the Helsinki Exchanges at any given time. The Board of Directors shall be entitled to use the authorization when there are weighty financial reasons to safeguard the corporation's activity or to consolidate and expand the company's international and/or national business and/or to safeguard a stable development of the share price. Following the acquisition of shares as above, the distributable equity of the company will decrease. As the maximum number covered by the authorization is less than 5% of the company's total number of shares and votes, the above acquisition will have only a limited impact on the allotment of shares and votes in the company. The company's inner circle, as specified in Chapter 1, Section 4 of the Companies Act, owns a total of 63.0% of the company's shares and 71.0% of the votes. As the company intends to acquire the shares on the Helsinki Exchanges from unknown sellers, the number of shares and votes owned by the inner circle after the acquisition cannot be specified. 2. that the Board of Directors be authorized to decide within the period of one year from 16 March 2004 to convey a maximum of 1,869,803 Fiskars A shares and a maximum of 805,618 Fiskars K shares which were acquired pursuant to the Board's authorization. It is proposed that the Board of Directors be entitled to decide to whom and in which order the acquired shares shall be conveyed. The Board of Directors can decide on the conveyance of the acquired shares disapplying the shareholders' pre-emptive rights. The Board of Directors shall be entitled to use the authorization when there are weighty financial reasons to safeguard the corporation's activity or to consolidate and expand the company's international and/or national business. The lowest price at which the shares are conveyed shall be the current share price on the Helsinki Exchanges at the time of the conveyance. Heikki Allonen President and CEO