EVOX RIFA GROUP OYJ STOCK EXCHANGE RELEASE
on July 8, 2002, at 2:15 p.m.

EVOX RIFA GROUP’S RIGHTS OFFERING

The subscription period for the rights offering based on the shareholders’ pre-emptive right of subscription, decided upon by the Annual General Meeting of Shareholders held on May 31, 2002, ended on July 2, 2002.

In the offering, a total of 86,685,509 shares were offered for subscription for the shareholders. A total of 55,323,080 shares were subscribed for on the basis of the primary pre-emptive right of subscription, equalling to approximately 63.8 percent of the shares offered in the offering. A total of 5,987,134 new shares were subscribed for on the basis of the secondary pre-emptive right of subscription. A total of 2,357 investors subscribed for shares in the offering.

The Board of Directors of the company has approved all subscriptions made based on the primary and secondary pre-emptive right of subscription.

In accordance with the terms and conditions of the offering, the Board of Directors has offered the shares not subscribed for based on the primary and secondary pre-emptive right of subscription, a total of 25,375,295 shares, for subscription to the parties designated by the Board of Directors. Prior to the offering, these parties had undertaken to subscribe for the unsubscribed shares. These parties are Fennogens Investments S.A., Veikko Laine Oy, Procurator Oy and Varma-Sampo Mutual Pension Insurance. Simultaneously, the Board of Directors has approved the subscriptions made by the above-mentioned parties. Following such approval, all shares offered in the offering were subscribed for.

As a result of the offering, the share capital of Evox Rifa Group Oyj will be increased by EUR 4,334,275.45 to EUR 8,668,550.90, equalling to 173,371,018 shares. The increase in the share capital is expected to be registered with the trade register on July 10, 2002, after which the shares subscribed for on the basis of the primary pre-emptive right of subscription will no longer be quoted separately as their own security type in the Helsinki Exchanges. The new shares are expected to be quoted alongside with the old shares beginning as of July 11, 2002. The shares subscribed for on the basis of secondary pre-emptive right of subscription are expected to be booked on the book-entry accounts of the subscribers on July 10, 2002.

The new shares will entitle to full dividends for the financial year beginning as of January 1, 2002. Other shareholder rights will commence when the increase of the share capital has been registered with the trade register, which is estimated to be on July 10, 2002.

Following the offering, the four largest shareholders of the company and their respective shareholdings are Fennogens Investments S.A. (38,41%), Veikko Laine Oy (11,48%), Procurator Oy (7,18%) and Varma-Sampo Mutual Pension Insurance (3,64%).

EVOX RIFA GROUP OYJ

Board of Directors

For further information:

Evox Rifa Group Oyj, CEO Harri Launonen, tel. +358 9 5406 5001
and CFO Pekka Lopperi, tel. +358 9 5406 5003.

Distribution: Helsinki Exchanges

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