Correction to stock exchange announcement from 29 April 2004

Wartsila Corporation
  • Stock exchange release
7 May 2004 at 3:01 AM E. Europe Standard Time

Wärtsilä Corporation STOCK EXCHANGE ANNOUNCEMENT May 7 2004, 12.00

Correction to stock exchange announcement from 29 April 2004 concerning the conversion of 1994 convertible subordinated debentures into Wärtsilä shares in 2004

In Wärtsilä Corporation’s stock exchange announcement from 29 April 2004 was an error concerning the debentures convertible into A and B shares.

Of the loan principal convertible into A and B shares, EUR 7,225,356.48 has been between 2 January and 19 April 2004 converted into 300,720 A shares and 300,720 B shares.

The information in the announcement concerning the loan principal convertible into B shares was right, i.e. EUR 17,407,457.92 has been converted into 1,449,000 B shares.

The loan principal remaining unconverted totalled EUR 363,282.76 in respect of the notes convertible into A and B shares, and EUR 2,479,082.51 in respect of the notes convertible into B shares. The outstanding unconverted principal, EUR 2,842,365.27, has been repaid in its entirety with interest on 3 May 2004.