ALLOCATION OF SHARES IN M-REAL RIGHTS OFFERING COMPLETED
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN AUSTRALIA, CANADA, FRANCE, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLES REPUBLIC OF CHINA, JAPAN, SPAIN OR THE UNITED STATES OF AMERICA.
M-real Corporation Stock Exchange Bulletin 12 October 2004 at 2 p.m. ALLOCATION OF SHARES IN M-REAL RIGHTS OFFERING COMPLETED The Board of Directors of M-real Corporation has approved today the allocation and related subscriptions of shares subscribed for based on the exercise of the secondary subscription right in the rights offering of M-real. A total of 532,772 Series B shares were allocated to the shareholders. Nearly 4,700 shareholders participated in the secondary subscription and subscribed for 31,098,942 Series B shares, which exceeded the number of shares available by close to 60 times. The shares were allocated to the shareholders who participated in the secondary subscription in proportion to their respective shareholdings as per the record date of the rights offering, 10 September 2004, in accordance with the terms and conditions of the rights offering. As fractions of shares could not be allotted, shareholders who held 85 or fewer shares on the record date were not allotted shares. Any excess subscription payment paid in connection with subscription commitments in the secondary subscription will be refunded without interest on or around 14 October 2004. In addition, shareholders who exercised their secondary subscription right will be notified individually of their respective allocation. The increase in M-reals share capital of EUR 905,712.40 relating to the shares allocated based on the exercise of the secondary subscription right will be registered with the Finnish Trade Register on 13 October 2004. The shares will be delivered to shareholders book-entry accounts and commence trading on the Helsinki Stock Exchange on 13 October 2004. The shares subscribed for in the rights offering will entitle their holders to full dividends declared by M- real and all other rights in the company conferred by the shares after the increase in the share capital has been registered with the Trade Register. Following the registration of the increase in M-reals share capital, the companys registered share capital will be EUR 557,881,540.40 and consist of 328,165,612 shares. The number of Series A shares will be 36,340,550 and the number of Series B shares will be 291,825,062. All shares subscribed for in the rights offering have been paid for in full. M-REAL CORPORATION Board of Directors For additional information contact Chief Operating Officer Hannu Anttila, tel. +358 10 4694 343 or Executive Vice President and CFO Juhani Pöhö, tel. +358 10 4695 283 THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR TO OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, NOR MAY THE SECURITIES BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION AS PROVIDED IN THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS THEREUNDER AND APPLICABLE STATE LAWS. THERE IS NO INTENTION TO REGISTER ANY PORTION OF THE OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES. THE INFORMATION CONTAINED HEREIN SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION, EXEMPTION OF REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.