Moody's changes outlook on M-real's ba2 rating to negative from stable (19 October, 2005)

M-real Corporation Stock Exchange Bulletin 19.10.2005 at 3 p.m.

Moody's Investors Services has today changed the outlook on M-real
Corporation's Ba2 rating to negative from stable. According to Moody's the
outlook change to negative is caused by the continuing weak operating
environment for the European paper industry. 
The revision to negative outlook does not impact the costs of M-real
Corporation's existing debt or credit facilities. 
Corporate Communications
For additional information please contact Mr Aapo Nikunen, Managing Director,
Metsä Group Financial Services tel. +358 10 469 4255. 

M-real Corporation, headquartered in Finland and employing some 16,000 people,
is a European paper and paperboard company, providing premium solutions for
consumer packaging, communications and advertising end-uses. Through its
worldwide sales network, M-real serves its customers who mostly comprise
publishers, printers, paper merchants, offices and well-known consumer product
companies and carton printers. M-real is listed on the Helsinki Stock Exchange.
Its turnover in 2004 was EUR 5.5 billion.

About Us

Metsä Metsä Group is a forerunner in sustainable bioeconomy utilising renewable wood from sustainably managed northern forests. Metsä Group focuses on wood supply and forest services, wood products, pulp, fresh fibre paperboards and tissue and cooking papers. Metsä Group’s sales totalled EUR 5.0 billion in 2017, and it employs approximately 9,100 people. The Group operates in nearly 30 countries. Metsäliitto Cooperative is the parent company of Metsä Group and is owned by approximately 104,000 Finnish forest owners.