The share subscription price for Sanoma Corporation's stock option 2008 is EUR 12.25/share (the trade volume weighted average quotation of the share on the NASDAQ OMX Helsinki Ltd. during 1 November-31 December 2008 with an addition of twenty (20) per cent). Each year the dividend is deducted from the subscription price. 

A total of 1,700,000 new shares or existing shares held by the Company can be subscribed for with stock options 2008. The share subscription period for stock options 2008 will be 1 November 2011-30 November 2014.

The theoretical market value of stock options in Stock Option Scheme 2008 is EUR 1.70/stock option. The theoretical market value of the entire scheme is thus EUR 2,890,000. The theoretical market value of one stock option has been calculated through the use of Black & Scholes stock option pricing model with the following input factors: share price EUR 9.21, share subscription price EUR 12.25, risk free interest rate 3.0%, validity of stock options 5.92 years and volatility 23.40%. 

The terms and conditions of the Stock Option Scheme 2008 are available on the Company's internet pages

Sanoma announced the Stock Option Scheme 2008 on 19 December 2008.

Sanoma Corporation

Kim Ignatius
Chief Financial Officer

Additional information: Sanoma's Group Communications, tel +358 105 19 5062 or

Sanoma inspires, informs and connects. We bring information, experiences, education and entertainment to millions of people every day. We make sure that quality content and interesting products and services are easily available and meet the demands of our readers, viewers and listeners. We offer challenging and interesting employment for over 20,000 people in 20 countries throughout Europe. In 2007, the Group's net sales totalled EUR 2.9 billion.