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*M-REAL CORPORATION?S SUBSCRIPTION RIGHT

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EXCHANGE NOTICE 335/2004, 13 September 2004  SHARES


M-REAL CORPORATION’S SUBSCRIPTION RIGHT

The subscription right of the new issue of M-real
Corporation will be traded on the Main List as of 15
September 2004. Six  subscription rights will entitle to
purchase five new B shares for the price 3,00 EUR/share.

Indentifiers of the subscription right of M-real
Corporation:

Tradin code:                       MRLBVU0104
ISIN-code:                         FI0009502819
Round lot:                         500
Subscription period:               15 September-1 October 2004
Trading starts:                    15 September 2004
Last trading day:                  24 September 2004


HELSINKI STOCK EXCHANGE
Janne Seppänen
Vice President Surveillance Finland

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