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Eastern European Markets
PRESS RELEASE
June 2, 2005

Stockmann opens the flagship Zara store in Moscow

Stockmann will open the flagship of its Zara stores in Russia on Friday, June 3, 2005.
The site of the newest Zara is in the heart of Moscow, in the best possible commercial location at the head of Tverskaya Street. Three kilometres long, Tverskaya is Moscow's leading high street. Opposite the Zara is the prestigious National Hotel. The Russian Duma is right beside the store and Red Square is within easy walking distance a couple of hundred metres away.

The two-floor store will have about 700 square metres of retail space. Customers will be served by a staff of about 70 employees.

The Zara chain is growing rapidly in Russia. The country's first Zara store was opened in February 2003 in Moscow's Mega South Shopping Centre. The new Zara store is the fourth to be opened in Russia. This year alone, Stockmann has taken steps to open another three Zara stores in Moscow.

In 2002, Spain's Inditex Group - the owner of the worldwide Zara chain - and Stockmann concluded an agreement according to which Stockmann obtained the franchising rights to bring the Zara chain to the territory of the Russian Federation. The partners' commercial expectations have been exceeded by a clear margin.

For further information
Jukka Hienonen, Director of the Department Store Division, tel. +358 50 388 9670
Jussi Kuutsa, Director of International Operations, tel. +358 50 388 9680
Kati Varhee, Chain Manager, Zara, tel. +7 903 729 6986

www.stockmann.fi


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