Uponor's share capital increase and amendment to Articles of Association registered

11/19/2004, 7:03 AM (Source: GlobeNewswire)
Uponor Corporation Stock exchange announcement 19 Nov. 2004 8:00

Uponor Corporation's share capital increase and amendment to Article
3.1 of the Articles of Association were entered in the Trade Register
today. Extraordinary General Meeting (EGM) on 16 Nov. 2004 decided to
double the share capital from EUR 74,820,444 to EUR 149,640,888 based
on a bonus issue and to alter the Articles of Association applying to
the minimum and maximum share capital. Bonus shares will be entered
in the shareholders' book-entry securities accounts on 22 Nov. 2004.

Bonus issue 2004:

Subsequent to the EGM's decision, the corporation's share capital was
increased through a bonus issue of EUR 74,820,444 from EUR 74,820,444
to EUR 149,640,888. The bonus issue was executed by issuing one bonus
share for each existing share without consideration, the number of
bonus shares totalling 37,410,222 each at a nominal value of EUR 2.
As a result, the number of shares now totals 74,820,444. The share
capital increase was executed by transferring an amount equal to the
combined nominal value of the bonus shares, i.e. EUR 74,820,444, from
the capital reserve to the share capital.

Record date for the bonus issue is today, 19 November 2004. Bonus
shares will be entered in the shareholders' book-entry securities
accounts on Monday, 22 November 2004. The bonus shares entitle their
holders to a full dividend for the financial year commencing 1
January 2004 and provide the other shareholder entitlements as of
today. The bonus shares will be traded on the Helsinki Exchanges'
Main List together with the old shares as of Monday, 22 November
2004.

The Finnish Financial Supervision Authority has granted the
corporation an exemption from the duty to publish listing particulars
with regard to the bonus issue on 5 November 2004.

Amendment to Article 3.1 of the Articles of Association:

The EGM's decision to amend the Articles of Association applying to
the minimum and maximum share capital was also registered today. The
new wording of Article 3.1 is as follows:

'Article 3 Minimum and maximum share capital, par value of shares
The minimum share capital of the company is EUR 75,000,000 and the
maximum share capital is EUR 300,000,000, within which limits the
share capital may be increased or decreased without amending the
Articles of Association.'

In other respects, the Articles of Association remain unchanged.

For additional information, please contact:
Pekka Holopainen, General Counsel, Tel +358-20-129 2835


Uponor Corporation


Tarmo Anttila
Vice President, Communications



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