Stora Enso?s non-recurring items in third quarter 2004

STORA ENSO OYJ  Stock Exchange Release 8 October 2004 at 9.00

Stora Enso’s non-recurring items in third quarter 2004

Stora Enso will have two non-recurring items in the third 
quarter 2004 with a total positive effect of USD 90.9 (EUR 74.1) 
million on operating profit. 

Changes in the US healthcare plans will have a one-time positive 
non-cash effect of USD 96.4 (EUR 78.6) million. This is a 
reversal of expenses already taken in respect of various US 
retiree healthcare programs provided to both current and future 
retirees that are now being modified. In addition, the future 
reduction of maintenance personnel in the USA will have a 
negative severance expense effect of USD 5.5 (EUR 4.5) million 
in the third quarter. The total effect on EPS will be EUR 0.05.

These measures are taken as part of the fixed cost reduction 
programmes in Stora Enso North America. The changes to 
healthcare plans will decrease personnel costs on an annualised 
basis by USD 6.4 (EUR 5.2) million from 1 October 2004 onwards.

For further information, please contact:
Esko Mäkeläinen, CFO, tel. +44 20 7016 3115
Kai Korhonen, Senior Executive Vice President, Stora Enso Paper, 
tel. +44 20 7016 3162
Kari Vainio, Executive Vice President, Corporate 
Communications, tel. +44 7799 348 197
Keith B Russell, Senior Vice President, Investor Relations, tel. 
+44 20 7016 3146


p.p.  Jussi Siitonen   Jukka Marttila