Stora Enso shares converted and North American stock options exercised 

 

During the 1-31 October 2006 conversion period there was one conversion and a total of 950 A shares were converted into R shares. The shares were recorded in the Finnish trade register today, 15 November 2006, and trading in the new R shares will start on 16 November 2006.

 

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. During October 2006 a total of 1 889 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