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KIRKNIEMI RATIONALISATION NEGOTIATIONS C

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M-real Corporation Stock Exchange Bulletin 13.11.2003 at 9.30

KIRKNIEMI RATIONALISATION NEGOTIATIONS CONCLUDED

The rationalisation negotiations in M-real Kirkniemi mill that
started on 10 November have yesterday evening been concluded with all
the personnel groups.

It has been agreed that the amount of personnel at the mill decreases
with 155 persons in total by the end of the year 2006. At present, it
is estimated that the redundancies can be implemented smoothly with,
for instance, retirement arrangements.

At present, about 850 people work at the Kirkniemi mill.


M-REAL CORPORATION

Jouko M. Jaakkola
President and CEO

For additional information, contact Mill Manager Juhani Pöhö, tel.
+358 10 464 2475, GSM +358 50 598 7607

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