Tiimari Plc Stock Exchange Release 12 November 2007 KEY FIGURES OF THE CONTINUED OPERATIONS ON REVIEW PERIOD 1 JANUARY 30 SEPTEMBER 2007:

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1 Tiimari Oyj Abp Interim Report January 1 - September 30, /11/2007 Tiimari Plc Stock Exchange Release 12 November 2007 Tiimari result as expected considering seasonality KEY FIGURES OF THE CONTINUED OPERATIONS ON REVIEW PERIOD 1 JANUARY 30 SEPTEMBER 2007: - Turnover MEUR 43.3 (MEUR 2.8) - EBITDA MEUR -0.7 (MEUR 0.3, result MEUR -4.0 (MEUR 0.3) both including a MEUR 1.4 acquisition cost depreciation of inventory - Earnings per share MEUR (MEUR 0.05) - Signing of the lease for the first Russian store - Leo Longlife Design Oy changed its name to Tiimore Oy and opened a web shop STATEMENT OF THE MANAGING DIRECTOR In the third quarter, Tiimari continued the development of both domestic and foreign retail operations. In the beginning of the year, several stores were renewed according to the introduced concept. The renewal process cut down the sales of the group, several stores being closed during the renewal, but sales of the stores reflecting the new concept evolved better than before, as was expected. The modernisation of Tiimari Kaivopiha, the largest Tiimari store, is one of the renewal projects started during the review period. Tiimari continued its international expansion by signing the lease for opening the first Tiimari store in St. Petersburg for the Christmas season and for opening the fourth Polish store in Bialystok in November. Business gift merchandiser Leo Longlife Design Oy, owned by Tiimari Plc, changed its name to Tiimore Oy on 23 August The change of name became actual after the product assortment and operations model of the company were changed and expanded substantially. Previously consisting mainly of Leo Longlife Design products, the assortment was expanded by utilising the purchasing and logistics expertise of Tiimari Retail Oy. In addition to using traditional sales representatives, a web shop was opened at on 23 August. The CRM and ordering systems were also modernised. At the end of the review period, Tiimari had a total of 178 own stores, the number of the equivalent period in 2006 being 182 stores Finland Estonia Latvia 4 4 Norway 1 2 Poland 3 2 Sweden 0 1 In addition, Tiimari had partnership stores and franchise stores as follows Partnership stores 6 7 Franchise stores 10 9 At the end of the review period, the Tiimari retail chain consisted of a total of 194 (198) stores. A central part of Tiimari's strategy is to increase the number of stores and to optimise their

2 location and size in square metres. FINANCIAL RESULT The turnover of the Tiimari group in the review period was MEUR 43.3 (MEUR 2.8). In the period of comparison from 1 January to 30 September 2006, the company engaged exclusively in the sale of business gifts and related industrial operations. Turnover reached MEUR 14.8 (MEUR 1.5) in the third quarter. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached a total of MEUR -0.7 (MEUR 0.3) in the review period. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached a total of MEUR -0.5 (MEUR -0.03) in the third quarter. EBITDA of the third quarter includes MEUR 1.4 of inventory write-offs that are related to the acquisition of Maritii Oy. After tax, the earnings of the review period were MEUR 4.0 (MEUR 0.3). The result of the financial period was MEUR -1.2 (MEUR 0.05) in the third quarter. Earnings per share from continued operations were EUR (EUR 0.00) BALANCE, FINANCIAL SITUATION AND INVESTMENTS On 30 September 2007, the total balance of Tiimari Plc was MEUR 83.6 (MEUR 21.1). The company has a solid financial situation. Interest-bearing net liabilities accounted for MEUR 37.0 (MEUR -15.1), the solvency ratio was 36.4 % (89.0 %) and the net gearing % (-80.5 %). Seasonal fluctuations have a considerable impact on the company s financial situation. Despite the seasonal fluctuations, the company managed to reduce its stock as compared to the beginning of the year, and an increased level of stock rotation is pursued in the future as well. During the review period, the central investments were made in the retail store network, totalling at MEUR 0.6. HUMAN RESOURCES The number of people employed by the group on 30 September 2007 was 559 (40) and on average 562 (40),of whom the most worked for Tiimari Retail Oyj. The parent Company employed 1 (5) person, and Leo Longlife Design Oy employed 37 (35) and on average 37 (35) persons. GROUP STRUCTURE The Tiimari Plc group consists of parent company Tiimari Plc and directly or indirectly entirely owned Maritii Oy (Helsinki), Tiimari Retail Oyj (Lahti), Tiimari Sweden AB (Stockholm), Tiimari Baltic AS (Tallinn), Tiimari Latvia SIA (Riga), Tiimari Polska SP Z.O.O (Warsaw), Tiimari Moscow Z.A.O., Tiimari St. Petersburg O.O.O., Tiimore Oy and Tuotesampo Oy (Tuotesampo Oy has no operations). The group includes also Tiimari Norway AS (Oslo), of which the group's share of ownership is 67.8% and the joint-stock property company Osuuskunnantie 30, which is a 10% subsidiary of Tiimari Plc and a 90% subsidiary of Tiimore Oy. SHARE CAPITAL At the end of the review period, the registered share capital of Tiimari Plc totalled at EUR 7,686,200, representing an aggregate number of 9,847,750 voting rights. The Company had a total of 2672 shareholders. At the end of the review period, the number of own shares held by the company was 11,850. The number of shares corresponds to that held at the beginning of the period. The nominal value of shares held by the Company was MEUR 0.01 and the proportion of share capital and voting rights was 0.12%.

3 DEVELOPMENTS AFTER THE REVIEW PERIOD Tiimari group acquired the Swedish retail chain Gallerix under a transaction signed on 1 November The Gallerix chain operates mainly on the franchising principle. The primary purchase price of the entire share capital of Gallerix International AB was MSEK 65.5 (approx. MEUR 7.1). In addition, a maximum additional purchase price of MSEK 21.0 (approx. MEUR 2.3) was agreed on. The amount of the additional price depends on Gallerix's financial development up to the end of the year. Gallerix will be consolidated with Tiimari with effect from 1 November Gallerix is the leading Swedish retail chain specialising in wall decoration items, gift wrapping items and cards. The company has 92 stores in Sweden and one store in Finland. The acquisition is estimated to create definite synergies, the total annual value of which is projected to total at over MEUR 1. The synergies are estimated to realise in full within the next two-year period. During the period from 1 September 2006 to 31 August 2007, Gallerix International AB turnover was MEUR and the operating margin MEUR 0.9. The total balance of the acquired company on 31 August 2007 was MEUR 4.6. Tiimari is currently calculating the precise acquisition effects. Tiimari will profit from Gallerix's measurable franchising expertise, solid knowledge of the Swedish markets and the opportunity to establish a more extensive clientele. The merger will boost domestic business growth. The established company will be a more favourable partner to shopping centres and other store facility leaseholders through the combined appeal of two vibrant concepts. The combination of these strong concepts will strengthen the position of the new company also when obtaining new business facilities in the Baltic countries, Poland and in Russia. The Gallerix retail concept fits the Finnish market well. In addition to individual specialized stores, mainly home decoration departments of department stores are currently focusing on the increasingly popular wall furnishing and decoration trend in Finland. Tiimari Plc is planning to convert and open several stores under the Gallerix concept within the next year. Tiimari continued the launch of the new store concept by modernising the stores located in Keskuskatu in Helsinki (12 October) and in Yliopistonkatu, Turku (25 October). During the transition, the store in Kemi was renewed (1 October). New stores were opened in Ahjokatu in Jyväskylä (7 November), the Atomi shopping centre in Riihimäki (1 November) and to the immediate vicinity of the new Prisma supermarket in Viikki (8 November). In addition, Tiimari has signed a lease for opening a store in the Revontuli shopping centre in Rovanienmi in December. Tiimari continues its international expansion by opening a new store with a floor space of 206 m2 in Bialystok, North-Eastern Poland in the beginning of November. The store will be located in a new shopping centre, Galleria Podlaska, which is being constructed around Carrefour. In addition to local Polish consumers, the proximity of the trade centre to the border will attract Byelorussian consumers as well. Tarja Nikkarikoski, Student of Philosophy holding a vocational qualification in Business information Technology, was appointed the Chief Information Officer of Tiimari Plc and a member of the Management Group with effect from 15 October FUTURE PROSPECTS Tiimari Plc will open 7 new stores during November and December, 5 of which will be located in Finland, one in Poland and one in Russia. The acquired Gallerix retail chain will be consolidated with the Tiimari group with effect from 1 November. The anticipated turnover of the entire year 2007, including the turnover of Gallerix is approximately MEUR 77.0, the forecasted earnings before interest, taxes, depreciation and amortization (EBITDA) being approximately MEUR 8.0 and including yet for this year the MEUR 1.4 acquisition cost depreciation of inventory for Maritii Oy but not the possible depreciation related to the acquisition of Gallerix. This is based on the reported result of the final quarter of the previous year, adjusted with the non-recurring inventory write-off and acquisition cost depreciation and consolidated with the result of 1 January 30 September The anticipated result of 2007 is clearly positive. As last year, the majority of the earnings are entered as income during the last quarter.

4 SHORT-TERM RISKS AND UNCERTAINTIES The biggest challenges that Tiimari is faced with are the fluctuations in the general consumption, demand and the competition environment, as well as the attainability of advantageous business locations in the international market. Tiimari is currently concentrating heavily on developing its stores and marketing activities. The company is seeking growth in the number of visitors and the amount of purchases per visitor, as well as developing its international operations. Managing the potential growth requires investments in administration, new locations, internationalization and recruiting more staff. Tiimari strives to prepare for changes in consumer demand and the competition environment by knowing the consumer, constantly developing the Company concept, and by implementing new and innovative business solutions. ACCOUNTING PRINCIPLES This Interim Report has been prepared according to the Recognition and Measurement principles of the International Financial Reporting Standards (IFRS). This Interim report is unaudited. All the future estimates and forecasts made here are based on the company's current vision of the market and economical developments. Actual events and results may differ considerably. Due to the fact that Tiimari Plc had yet not engaged in Tiimari Retail operations one year ago, the business operations cannot, as such, be compared to the equivalent quarter of the previous year. CONSOLIDATED PROFIT AND LOSS ACCOUNT EUR 1, Continued operations TURNOVER 14,804 1,556 43,278 2,779 32,819 Other operating income Change in inventories ,992 Materials and supplies -6,865-1,059-16,876-1,201-7,667 Work benefit and reward expenses -3, , ,717 Depreciation , Other operating costs -5, , ,900 Operating profit / loss , ,018 Financial income and expenses , Profit / loss before taxes -1, , ,225 Taxes Profit/loss for the review period from continued operations -1, , ,829 Discontinued operations Profit from discontinued operations ,465 1,460 Profit/loss for the financial year -1, ,981 1,785 6,289 Parent company shareholders' profit earnings per share Undiluted earnings per share Continued operations , Discontinued operations The adjusted value with the dilution effect earnings per share correspond to those of the undiluted earnings per share CONSOLIDATED BALANCE SHEETS ASSETS Business value 32, ,392 Other intangible assets 15, ,387 Tangible assets 3, ,890 Investment properties Other financing resources Receivables

5 Imputed tax credit 1, Total long-term assets 53, ,917 Current assets 24,934 2,480 25,206 Trade and other receivables 4,222 1,357 3,852 Liquid assets 1,273 15,170 8,323 Total current assets 30,429 19,007 37,381 Non-current assets held for sale 0 1, TOTAL ASSETS 83,610 21, SHAREHOLDERS' EQUITY AND LIABILITIES Parent Company s shareholders equity TOTAL SHAREHOLDERS EQUITY 30,462 18,798 35,891 LIABILITIES Imputed tax credit 5, ,552 Interest-bearing liabilities 24, ,835 Provisions Total non-current liabilities 30, ,432 Interest-bearing liabilities 13, ,080 Provisions Accounts payable and other payables 9,147 1,930 14,040 Current tax Total current liabilities 22,877 2,295 35,285 Liabilities related to non-current assets held for sale TOTAL LIABILITIES 53,148 2,325 63,237 TOTAL SHAREHOLDERS EQUITY 83,610 21,123 99,128 AND LIABILITIES CALCULATION OF CHANGES TO THE GROUP S SHAREHOLDERS EQUITY Parent Company's shareholders' equity Calculation of changes to shareholders' equity Invested free Own Current Share equity Own value Accumulated Own equity equity fund shares fund Transl. diff. profits Tot Own equity 7,686 11, ,729 35,891 Transl. difference conversion Profit/loss for the financial period -3,981-3,981 Total recognised profit and loss 16-3,981-3,965 Distribution of dividend -1,477-1,477 Equity-settled share-based payments Own equity 7,686 11, ,284 30, Calculation of changes to shareholders' equity Invested free Own Current Share equity Own value Accumulated Own equity equity fund shares fund Transl. diff. profits Tot Own equity 6, ,773 20,248

6 Profit/loss for the financial period 1,785 1,785 Total recognised profit and loss for the period 1,785 1,785 Issue of own shares Distribution of dividend -3,300-3,300 Other items 1 1 Own equity 6, ,259 18, CASH FLOW STATEMENT 1-9/07 1-9/ /06 Consolidated statements of cash flows Cash flows from operations Profit/loss for financial period -3,981 1,784 6,289 Adjustments: Depreciation and decrease in value 1, Financial income and expenses 1, Taxes Other adjustments Change in working capital: Change in short-term receivables , Change in inventories ,308 Change in short-term liabilities -4, ,180 Interests paid -1, ,548 Interest income received Taxes paid Net cash flow from operations -7, ,665 Cash flows from investment activities Investments in tangible and intangible assets Acquisitions of subsidiary companies net of cash acquired ,325 Capital gains from tangible and intangible assets 6, ,494 Repayment on other receivables Repayment on loan receivables Additional purchase price -1, Net cash flow from investments 4, ,880 Cash flows from financing activities Share issue ,644 Long-term loans, increase ,859 Long-term loans, decrease -2, ,836 Purchase and issue of own shares Long-term loans, increase 3, ,974 Long-term loans, decrease -5, ,617 Short-term loans, decrease -3, Dividends paid -1,477-1,584-3,286 Net cash flow from financing -3,772-1, Change in financial resources -7, ,413 Liquid assets January 1, ,323 15,736 15,736 Liquid assets September 30, ,273 15,170 8,323 SEGMENT-SPECIFIC FIGURES The Company s continued operations form two primary Business segments: Tiimari Retail Oyj and Tiimore Oy. Turnover by segment EUR Turnover Tiimari business operations 14, , ,478

7 Tiimore business operations , ,622 Other operations 0 1, ,800 3,719 Total 14,804 1,556 43,278 2,779 32,819 Profit / loss Tiimari business operations , ,717 Tiimore business operations Other operations Total , ,018 Assets and liabilities by segment Assets by segment EUR Tiimari business operations 80, ,716 Tiimore business operations 3,967 1,136 3,660 Unaligned assets 4,100 19,987 11,584 Elimination -5, ,832 Total 83,610 21,123 99,128 Liabilities by segment EUR Tiimari business operations 8, ,101 Tiimore business operations Unaligned liabilities 49,973 2,153 53,224 Elimination -5, ,445 Total 53,148 2,325 63,237 CONTINGENT LIABILITIES Financial institution loans against the following securities 25, ,617 Real estate mortgages 2, ,029 Corporate mortgages 31, ,137 Pledged shares 1, ,476 Other own liabilities: Irrevocable letters of credit Other liabilities OTHER TENANCY LIABILITIES Due within one year 10, ,577 Due after one year 6, ,619 GROUP INVESTMENTS AND DEPRECIATIONS EUR 1, Gross investments Depreciations 7,228 2, CHANGES TO GROUP'S FINANCIAL INSTITUTION LOANS Increase 9, ,833 Decrease -7, ,451 Loan repayments Total of changes -2, ,618

8 KEY INDICATORS 1-9/07 1-9/ /06 Turnover 43,278 2,779 32,819 Operating profit / loss -2, ,018 Result of the financial period -3, ,829 Earnings / share, EUR Earnings / share, from continued oper, EUR SH equity / share, EUR SH equity / share (diluted), EUR Solvency ratio % % % Gearing (level of indebtedness) % % % Balance sheet total 83,610 21,123 99,128 Number of shares (average) 9,847,750 6,600,000 6,864,386 Interest-bearing net liabilities 37,037-15,140 33,593 CALCULATION OF KEY INDICATORS Earnings/share (EPS), EUR= (Earnings before extraordinary items taxes) / Avg. number of shares adjusted for the share issue. Shareholders' equity/share, EUR= Shareholders equity / Number of shares at the end of the preview period Solvency ratio-%= (Shareholders equity*100)/(balance sheet total-advance payments received) Level of indebtedness (gearing)= (Interest-bearing liabilities-cash at bank) * 100/SH equity Interest-bearing net liabilities Interest-bearing liabilities cash at bank SHAREHOLDERS On , Tiimari Plc had a total of 2672 shareholders. Major shareholders, Shares % of shares and voting rights Atine Group Oy 2,081, Assetman Oy 1,000, Baltiska Handels A.B. 455, Cumasa Oy 407, Varma Mutual Pension Insurance Company 375, Ilmarinen Mutual Pension Insurance Company 351, Nordea Bank Finland Oyj, administrative reg. 339, Pohjola Non-Life Insurance Company 202, Troll Capital Oy 127, Suomen Kauppayhtiöt Oy 125, Tapiola Suomi Mutual Fund 103, Arvo Finland Value Mutual Fund 100, Moneda Consulting Oy 87, Syrjänen Jaakko 61, Illi Kristina 60, EQ Pankki Oy 50, Nordea Bank Finland Plc 50, Turpeinen Urho 50, Jyväsjärvi Juha 35, Lamy Oy 32, Mezera Oy 31, Mäki Raimo 30,

9 Potrykus Yvonne 30, Kallio Mika 29, Brade Jouko 28, Kristina Illi Managing Director Distribution: Helsinki Stock Exchange Key media Further information: Managing Director Kristina Illi, tel (0)