OLVI PLC            PRESS RELEASE 30 JAN 2004 at 9.00 pm   1 of 1

48,200 A SHARES IN OLVI PLC SUBSCRIBED AGAINST THE WARRANTS
ASSOCIATED WITH THE 1999 BOND WITH WARRANTS

From 1 October to 31 December 2003, a total of 48,200 A shares
have been subscribed using the warrants associated with the 1999
bond with warrants. The share capital has increased by a total of
96,400.00 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 30 January 2004. The shares subscribed using the
warrants will be traded together with the existing shares from 2
February 2004 onwards. The company’s new share capital is
9,873,004.00 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.






Markku Rönkkö
Managing Director

Phone  +358 50 65 851


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