Today 10 August 1998, WSOY's Extraordinary General Meeting has approved the merger plan involving WSOY, Sanoma Corporation, Helsinki Media Corporation and Oy Devarda Ab. The other parties approved the plan on 29 June 1998. The merger will enter into force on 1 May 1999.

According to the now approved plan, Werner Söderström Osakeyhtiö - WSOY, Sanoma Corporation, Helsinki Media Corporation as well as Oy Devarda Ab, which holds shares in the two last-mentioned companies, will merge to form together a new receiving company called Sanoma-WSOY Oyj.

The General Meeting unanimously decided to approve the merger plan.

Upon approving the merger plan, the General Meetings of the merging companies approved the Articles of Association of the new company, elected the members of the Board of Directors and the auditors.

The composition of Sanoma-WSOY Oyj's Board of Directors is: Mr. Aatos Erkko, Chairman; Mr. Esko Koivusalo, Vice Chairman; and Ms. Jane Erkko, Ms. Marjukka af Heurlin, Mr. Paavo Hohti, Mr. L.J. Jouhki, Mr. Kyösti Järvinen, Mr. Robin Langenskiöld, Ms. Rafaela Noyer, Mr. Jaakko Rauramo and Mr. Antero Siljola, members.

SVH Coopers & Lybrand Oy, Corporation of Auditors, with Mr. Tauno Haataja, APA, as responsible auditor, and Mr. Pekka Nikula, APA, were appointed as auditors, and Ms. Johanna Perälä, APA, as deputy auditor.

A proposal will be made to the Board of Directors of Sanoma-WSOY Oyj to appoint Mr. Jaakko Rauramo as President of Sanoma-WSOY and Mr. Antero Siljola as Deputy to the President.


Antero Siljola President and CEO

Distribution: HEX Helsinki Stock Exchange, principal media