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158,000 Orion A-shares converted into B-shares

In accordance with Section 3 of the By-Laws of Orion
Corporation, 158,000 A-shares have been converted into
158,000 B-shares. The conversion has been entered into
the Trade Register on 1 July 2004. After the conversion
there are 29,792,329 A-shares and 37,726,092 B-shares in
the company.