Negative decisions by the Administrative Court of Helsinki concerning Kesko's taxation

KESKO CORPORATION STOCK EXCHANGE RELEASE 14.11.2007 AT 13.00 The Administrative Court of Helsinki has decided not to accept the ¤22.5 million write down made by Rautakesko Ltd on the shares of its Swedish subsidiary, K-rauta AB, in its taxation for the year 2001. The negative impact of the Administrative Court's decision on the Kesko Group's result for the financial year 2007 will be approximately ¤6.4 million. The Administrative Court simultaneously decided to dismiss Kesko Corporation's appeal concerning the deductibility of expenses added to its taxable income for the years 1997-1999. The expenses were considered to be capital contributions to K-rauta AB. The decision will not affect the Kesko Group's result for the financial year 2007. A stock exchange release on the matter was previously published on 16 September 2003. Rautakesko Ltd and Kesko Corporation will apply for leave to appeal against the Administrative Court's decisions from the Supreme Administrative Court. Further information is available from Jukka Erlund, Vice President, Corporate Controller, tel. +358 1053 22338. Kesko Corporation Paavo Moilanen Senior Vice President, Corporate Communications