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Stora Enso shares converted and North American stock options exercised

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STORA ENSO OYJ   Stock Exchange Announcement 17 January 2005 at 11.00 


Stora Enso shares converted and North American stock options 
exercised

Conversion of A shares into R shares

During the 1–31 December 2004 conversion period there was one 
conversion and a total of 114 A shares were converted into R shares. 
The shares were recorded in the Finnish trade register today, 
17 January 2005, and trading in the new R shares will start 
on 18 January 2005.

Breakdown of shares after conversion:

A shares   179 048 409
R shares   658 194 990
Total      837 243 399


Stora Enso North America Option Programme

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. In December 
2004 a total of 1 053 R shares were subscribed against North 
American stock options. These R shares were previously held by 
the Company. 

After the subscription the Company holds: 

A shares   12 300
R shares   18 446 531


For further information, please contact:
Ulla Paajanen-Sainio, Vice President, Investor Relations and 
Financial Communications, tel. +358 2046 21242


STORA ENSO OYJ




p.p.   Jussi Siitonen       Jukka Marttila

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