ALMA MEDIA CORP. STOCK EXCHANGE RELEASE 29 APRIL 2005, 9.00 AM 1 (1)
ALMA MEDIA TO RAISE ADMINISTRATIVE EFFICIENCY
The divestment of Alma Media's Broadasting division took place as planned on 26 April 2005. The company then immediately started to assess how its structure and administration could be clarified and made more efficient in line with the new Group structure. As a consequence of this assessment statutory personnel negotiations will be started in the parent company and the administrative functions of the divisions which could lead to the reduction of 20-30 employees.
The sale of Alma Media's Broadcasting division to a company jointly owned by Bonnier & Bonnier AB and Proventus Industrier AB was implemented in the manner previously announced on 26 April 2005. Roughly 40% of Alma Media's net sales and some 500 employees left Alma Media as a result of the transaction.
Alma Media is initiating with immediate effect measures aimed at simplifying and raising the efficiency of the Group's structure and administrative functions to correspond with the Group's new scope of business operations. As part of this assessment work, the requisite statutory personnel negotiations have been started in Alma Media Corporation and the administrative units of its divisions. The purpose of the negotiations is to establish the impacts on, for example, the company's personnel needs should the company decide to abandon its divisional structure. The company estimates that such measures could lead to personnel reductions involving at most 20-30 employees.
ALMA MEDIA CORPORATION
Vice President, Corporate Communications and Investor Relations
Ahti Martikainen, VP, Corporate Communications and IR, +358 9 507 8514
Terhi Heikkinen, EVP, Human Resources, +358 9 507 8716
DISTRIBUTION: Helsinki Exchanges, principal media