Finnish Tire Manufacturer in Private Placement

February 23, 2005

Cleary Gottlieb acted as international counsel to Finnish tire manufacturer Nokian Tyres plc in the private placement of 1,074,000 newly issued shares, including 74,000 shares purchased pursuant to an over-allotment option.  The offering, though a primary capital raising, was conducted as a block trade without the preparation of a prospectus and priced on February 17.

Helsinki-based Nokian Tyres is a leading tire manufacturer, with its shares listed on the Helsinki Stock Exchange.