*CONVERSION OF A SHARE INTO R SHARE: STO

HEX HELSINKI     SECURITIES EXCHANGE   RELEASE 347/2003
                 SHARES                12 December 2003


CONVERSION OF A SHARE INTO R SHARE: STORA ENSO OYJ

A total of 314 157 converted A shares of Stora Enso Oyj
into R shares and 75 000 R shares subscribed with
warrants attached to the bond with warrants 1997 will be
traded together with the R shares of Stora Enso Oyj as of
15 December 2003.

Identifiers of Stora Enso Oyj's A and R share:

Trading code:                        STEAV
ISIN code:                           FI0009005953
Number of shares:                    181 211 080


Trading code:                        STERV
ISIN code:                           FI0009005961
Number of shares:                    683 051 419


HELSINKI EXCHANGES
Pekka Peiponen


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