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M-REAL CORPORATION TAKES ACTION TO RESPO

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M-real Corporation Stock Exchange Bulletin 10 June 2004 at 4.45 p.m.

M-REAL CORPORATION TAKES ACTION TO RESPOND TO THE COMPETITION
AUTHORITY INVESTIGATIONS

M-real continues its actions to respond to the competition authority
investigations, which include the inspections made to the group’s
premises in Finland. M-real has appointed the law firm Herbert Smith
to review the documents, which were handed over to the competition
authorities in connection with the inspections, and to assist the
company in internal investigations.

M-real has been informed that a class action complaint has been filed
against the company in the United States, like against other paper
manufacturers.

M-REAL CORPORATION

Corporate communications

For additional information contact President and CEO Jouko M.
Jaakkola, tel. +358 10 469 4118

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