Ownership distribution in Stora Enso 

Ownership distribution,
31 December 2011
% of shares Change % of shares % of votes Change % of votes

Finnish institutions

16.5

-8.5

22.1

-2.2

Solidium Oy *)

12.3

-

25.1

-

Finnish private shareholders

4.9

7.4

2.8

4.5

Swedish institutions

20.0

14.0

32.8

2.5

Swedish private shareholders

4.2

3.0

3.0

1.4

ADR holders

3.6

-

1.2

-

Under nominee names
(non-Finnish/non-Swedish shareholders)

38.5

-3.5

12.9

-3.4

*) Entirely owned by the Finnish State

The change % of shares and votes refers to the percentual change in the number of shares owned or the number of votes, compared to the end of the previous quarter (30 September 2011).