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M-REAL COMPLETES NEGOTIATIONS ON SWEDISH PRODUCTIVITY ENHANCEMENT

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M-real Corporation Stock Exchange Bulletin 30.6.2005 at 12.30 p.m.


M-REAL COMPLETES NEGOTIATIONS ON SWEDISH PRODUCTIVITY ENHANCEMENT
PROGRAM

M-real has completed the negotiations with employee representatives
concerning the integration of the Wifsta fine paper mill in Sweden
into the Husum pulp and paper mill. The aim of the changes is to
achieve total annual cost savings of at least EUR 22 million. All in
all, the reduction of employees will be 200 by the end of 2006,
resulting in an EUR 15 million non-recurring cost item that will
burden the second-quarter result.

M-REAL CORPORATION

Corporate Communications

For additional information contact, kindly before 3.30 p.m. (EET),
Hannu Anttila, President and CEO, tel. +358 10 469 43 43 and Peter
Sandberg, Executive Vice President, Office Papers, tel. +31 610 90 55
32

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