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LOCKOUT STARTED IN M-REAL MILLS IN FINLAND

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M-real Corporation Stock Exchange Bulletin 18.5.2005 at 12 a.m.


LOCKOUT STARTED IN  M-REAL MILLS IN FINLAND

The lockout declared earlier by the Finnish Forest Industries
Federation started today 18 May at 6 a.m. in all the M-real mills in
Finland. The lockout is to end on 1 June at 6 a.m., unless the
parties have not concluded a collective labour agreement before that.

The Finnish Forest Industries Federation has on 17 May declared a new
lockout which will immediately follow the previous one and end on 15
June at 6 a.m unless agreement is reached before that.

M-real estimates that the lockout would weaken its operating result
by 5-10 million euros per week.

M-REAL CORPORATION


Corporate Communications

For additional information contact Aarre Metsävirta, Senior Executive
Vice President and Deputy CEO, tel. +358 50 1460

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