M-REAL AND IBM HAVE FINALISED THE AGREEM
M-real Corporation Stock Exchange Bulletin 11.6.2003 at 15.00 M-REAL AND IBM HAVE FINALISED THE AGREEMENT ON M-REALS IT SERVICES M-real Corporation and IBM Global Services have finalised negotiations and signed an agreement on M-reals IT services. The partnership, announced as a letter of intent on April 14, is to support M-real's business strategy implementation and covers the development of business applications and the provision of basic information technology infrastructure services worldwide by IBM. The agreement is effective as of September 1, 2003 and it is valued at about EUR 550 million over a 10-year period. The agreement will gradually lead to 35 per cent reduction in M-reals IT costs. The pre- tax capital gain for M-real on the sell of Logisware Oy is about EUR 10 million and will be booked on third quarter. The agreement includes the transfer of M-real IT services operations and the operations of Logisware Oy, both present in several European countries, to IBMs global organisation. According to the agreement, approximately 300 persons, currently employed both in M-real IT units and in Logisware, will be transferred to IBM organisation. Part of the Logisware personnel will be transferred to M-real and Metsäliitto. The agreement is subject to competition authorities' approval. M-REAL CORPORATION Corporate communications For more information, please contact: Veli-Matti Mynttinen, Executive Vice President & CFO, M-real Corporation tel. +358 10 469 4655, mobile +358 50 2895