SONERA GROUP: Sonera's board of Directors approved subscriptions of the bond loan with warrants.

M2 PRESSWIRE-27 May 1999-SONERA GROUP: Sonera's board of Directors approved subscriptions of the bond loan with warrants (C)1994-99 M2 COMMUNICATIONS LTD

RDATE:260599

The Board of Directors of Sonera Group plc has today approved the subscriptions of the bond loan with warrants directed at the personnel. The amount of the loan was FIM 15,000,000, and the loan was subscribed in full. The loan was subscribed for by 5,326 persons, which is about 60 per cent of Sonera's personnel. The subscription share of Telibra Oy, a wholly-owned subsidiary of Sonera Ltd, was FIM 5,518,500. Telibra Oy may later offer the warrants it owns to the personnel of the Sonera Group or to persons to be recruited to the Group.

The share subscription period for warrant certificates A is from 1 June 2001 to 30 June 2005, and for warrant certificates B from 1 June 2003 to 30 June 2005. The maximum number of shares that can be subscribed for with the warrant certificates is 15,000,000. The subscription price for warrant certificates A is EUR 15.32, and for warrant certificates B the average price of the Sonera share in October 1999 with an addition of eight per cent. On the basis of the subscribed bond loan with warrants, the share capital of Sonera Group plc can be increased by a maximum of EUR 6,450,000.

The bond loan with warrants was offered for subscription to the entire personnel of Sonera as part of the incentive scheme. The subscription was carried out on the Internet from 10 to 21 May 1999. The bond loan with warrants was decided on by the Annual General Meeting held on 23 April 1999, at which date the terms and conditions of the loan were also published in a stock exchange release.

CONTACT: Jari Jaakkola, Senior Vice President, Corporate Communications & IR Tel: +358 2040 65170 e-mail: jari.jaakkola@sonera.fi

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