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M-REAL CORPORATION?S BOARD COMMITTEES

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M-real Corporation  Stock Exchange Bulletin  8 April 2004, at 2 p.m.

M-REAL CORPORATION’S BOARD COMMITTEES
                  
In accordance with the new Helsinki Exchanges recommendation on
Corporate Governance, M-real Corporation’s Board of Directors has set
up an Audit Committee, a Compensation Committee and a Nomination
Committee. Each committee will assist the Board of Directors in
preparing matters within its own area of responsibility. The Board
has furthermore confirmed written rules of procedure for the
committees.

The Audit Committee assesses the company’s financial reporting and
accounting methods as well as financial statement and other financial
information published by the company in order to ensure that this
information is balanced, transparent and correct. The members of the
Audit Committee are Asmo Kalpala (chairman), CEO of Tapiola Group,
Kim Gran, President of Nokian Tyres plc and Erkki Karmila, Executive
Vice President of Nordic Investment Bank.

The Compensation Committee assists the Board of Directors in matters
related to senior management’s terms of employment and remuneration.
The purpose of the committee is to set guidelines for the senior
management’s terms of employment and to prepare the company’s
compensation systems. The members of the Compensation Committee are
Antti Oksanen (chairman), President of Metsäliitto Group, Erkki
Karmila, Executive Vice President of Nordic Investment Bank, and
Arimo Uusitalo, Titular Farming Counsellor.

The Nomination Committee prepares the proposal to the Annual General
Meeting of the Board of Directors composition. It also prepares
matters concerning the Board of Directors remuneration and names
candidates for the new slate of directors. The members of the
Nomination Committee are Arimo Uusitalo (chairman), Titular Farming
Counsellor, Runar Lillandt, Titular Farming Counsellor, and Antti
Tanskanen, CEO of the OP Bank Group.

The Board of Directors elects the members of the committees from
amongst its number for one year at a time.


M-REAL CORPORATION


Board of Directors

For additional information, contact Jouko M. Jaakkola, President and
CEO, tel. +358 10 469 4118 or Nina Kuulusa, Vice President, Legal
Affairs, secretary to the Board of Directors, tel. +358 10 469 4322

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