Stora Enso shares converted and North American stock options exercised 

 

 

During the 1-30 November 2004 conversion period there were 3 conversions and a total of 8 654 A shares were converted into R shares. The shares were recorded in the Finnish trade register today, 15 December 2004, and trading in the new R shares will start on 16 December 2004.

 

Breakdown of shares after conversion:

 

 

 

Following the acquisition of Consolidated Papers, Inc. the Board of Directors decided to convert the Consolidated Papers' share option plans into Stora Enso share option plans. In November 2004 a total of 32 214 R shares were subscribed against North American stock options. These R shares were previously held by the Company.

 

After the subscription the Company holds:

 

 

 

For further information, please contact:

Ulla Paajanen-Sainio, Vice President, Investor Relations and Financial Communications,

tel. +358 2046 21242