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HEX commences legal proceedings against OM for trading in "Finnish" products

Date 23/07/1999

Helsinki Exchanges (HEX) has demanded arbitration proceedings concerning earlier agreements with OM. HEX claims that "Finnish" companies such as Nokia should not be allowed to have either their shares or share options listed on the OM Stockholm Exchange. HEX is seeking approximately 2 million euro in damages from OM as compensation for the trading in "Finnish" products on the OM Stockholm Exchange. OM believes that there are no grounds for the action and that it is contrary to important principles of competition law. The dispute will be settled through arbitration proceedings at the Stockholm Chamber of Commerce. For further information please contact: Hans Berggren, General Counsel, OM Gruppen + 46 70 552 52 11; Gustaf Sahlman, SVP Corp. Comm., OM Gruppen + 46 70 552 52 29