Reduction in Stora Enso share capital

STORA ENSO OYJ Stock Exchange Announcement 31 March 2003 at 13.30

Reduction in Stora Enso share capital

Stora Enso's share capital has been reduced through the 
cancellation of Stora Enso shares held by the company, as 
decided by the AGM on 20 March 2003. The share capital was 
reduced by EUR 60 509 460 through the cancellation of 93 800 
Series A shares and 35 500 000 Series R shares. This reduction 
in share capital was registered in the Finnish Trade Register 
on 31 March 2003.

Following this cancellation of shares, there are 182 222 885 
Series A and 681 964 614 Series R Stora Enso shares. The new 
share capital is EUR 1 469 118 748.30.

For further information, please contact:
Jyrki Kurkinen, Senior Vice President, Legal Affairs, 
tel. +358 2046 21217


p.p.	Jussi Siitonen		Pauli Mäkimaa