Major Shareholders as of 31 December 2002 

Please note that the following list has been compiled by the company, based upon shareholder information from Arvopaperikeskus and VPC share registers and a database managed by Citibank (as the company's ADR agent bank). This information includes only direct registered holdings, thus certain holdings (which may be substantial) of ordinary shares and ADRs held in nominee or brokerage accounts can not be included. The list is therefore incomplete.

Major Shareholders
as of 31 December 2002
By voting power
Country

Series A

Series R

% of shares

% of votes

1 Finnish State FI 55 595 937 41 483 501 10.8 % 23.5 %
2 Knut and Alice Wallenberg Foundation SE 58 379 194 0 6.5 % 23.0 %
3 Social Insurance Institution of Finland FI 23 825 086 3 738 965 3.1 % 9.5 %
4 Varma-Sampo Mutual Pension Insurance Company FI 8 922 117 140 874 1.0 % 3.5 %
5

Sampo Group

Sampo Life Insurance Company Limited
If P&C Insurance Company Ltd

FI 6 485 589 0 0.7 % 2.6 %
6 Marianne and Marcus Wallenberg Foundation SE 4 744 192 0 0.5 % 1.9 %
7 Ilmarinen Mutual Pension Insurance Company FI 3 490 040 4 344 550 0.9 % 1.5 %
8 Suomi Group

Suomi Mutual Life Assurance Company
Suomi Insurance Company
FI 3 240 000 423 200 0.4 % 1.3 %
9 Erik Johan Ljungberg's Education Fund SE 1 880 540 4 831 804 0.7 % 0.9 %
10 AMF Pensionsförsäkrings AB SE 0 17 000 000 1.9 % 0.7 %
11 MP-Bolagen i Vetlanda AB

Werner von Seydlitz
SE 1 521 400 1 655 000 0.4 % 0.7 %
12 Robur SE 0 9 865 904 1.1 % 0.4 %
13 Bergslaget's Sick and Healthcare Foundation SE 626 269 1 609 483 0.2 % 0.3 %
14 Lamar Mary M (ADRs) US 0 4 518 998 0.5 % 0.2 %
15 Handelsbanken CEA SE 380 855 708 435 0.1 % 0.2 %
16 Dalarnas Försäkringsbolag SE 400 000 460 000 0.1 % 0.2 %
17 Valtion eläkerahasto FI 0 3 730 000 0.4 % 0.1 %
18 Foundation for Knowledge and Competence Development SE 300 000 300 000 0.1 % 0.1 %
19 Alecta (Insurance Company) SE 0 3 063 741 0.3 % 0.1 %
20 AFA Sjukförsäkrings AB SE 0 2 845 270 0.3 % 0.1 %
20 largest in total 169 791 219 100 719 725 30.1 % 70.8 %