OLVI PLC            PRESS RELEASE 25 JAN 2004 at 14.00 pm   1 of 1

18,900 A SHARES IN OLVI PLC SUBSCRIBED AGAINST THE WARRANTS
ASSOCIATED WITH THE 1999 BOND WITH WARRANTS

From 1 October to 31 December 2004, a total of 18,900 A shares
have been subscribed using the warrants associated with the 1999
bond with warrants. The share capital has increased by a total of
37,800.00 euro. The new shares have the same value and belong to
the same series as the listed Olvi plc A-shares.

The increase in share capital has been registered in the Trade
Register on 19 January 2005. The shares subscribed using the
warrants will be traded together with the existing shares from 26
January 2005 onwards. The company’s new share capital is
10,028,004.00 euro.

Olvi plc’s Annual General Meeting on 22 April 1999 decided to
issue a bond with warrants to the employees of the Olvi Group and
to the members of Olvi plc’s Board of Directors.


Lasse Aho
Managing Director

Phone  +358 17 838 5200


DISTRIBUTION
Hex Plc
Key media
http://www.olvi.fi