MOODY?S CHANGES OUTLOOK ON M-REAL?S Ba2 RATING TO NEGATIVE FROM
M-real Corporation Stock Exchange Bulletin 19.10.2005 at 3 p.m.MOODYS CHANGES OUTLOOK ON M-REALS Ba2 RATING TO NEGATIVE FROMSTABLE Moodys Investors Services has today changed the outlook on M-realCorporation´s Ba2 rating to negative from stable. According toMoodys the outlook change to negative is caused by the continuingweak operating environment for the European paper industry. The revision to negative outlook does not impact the costs of M-realCorporations existing debt or credit facilities. M-REAL CORPORATION Corporate Communications For additional information