M-REAL EGM AUTHORIZES THE BOARD TO DECID

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN AUSTRALIA, CANADA,
FRANCE, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S
REPUBLIC OF CHINA, JAPAN, SPAIN OR THE UNITED STATES OF AMERICA.

M-real Corporation Stock Exchange Bulletin 6.9.2004 at 1.30 p.m.

M-REAL EGM AUTHORIZES THE BOARD TO DECIDE ON RIGHTS OFFERING

The Extraordinary General Meeting of M-real Corporation today
resolved to authorize the Board of Directors to decide on the
increase of the Company’s share capital by issuing no more than
265,000,000 new Series B Shares so that the share capital may be
increased by no more than EUR 450,500,000.

The Board of Directors has been authorized to decide on the
subscription price and other terms and conditions of the rights
offering. The authorization does not entitle the Board of Directors
to deviate from the shareholders' pre-emptive subscription rights and
it is valid until the next Annual General Meeting.

The Extraordinary General Meeting of M-real has resolved today,
September 6, 2004, to increase the minimum amount of the share
capital to EUR 255,000,000 and maximum amount of share capital to EUR
1,020,000,000, and to increase the minimum number of Series B shares
to 125,000,000 shares and the maximum number of Series B shares to
500,000,000 shares, and to amend the Article 4 and the Article 6 of
the Articles of Association respectively.

It is expected that the Board of Directors of M-real will decide on
the terms and conditions of the rights offering on September 7, 2004.

M-REAL CORPORATION


Corporate Communications

For additional information contact Chief Operating Officer Hannu
Anttila +358 10 4694 343 or Executive Vice President and CFO Juhani
Pöhö +358 10 4695 283



THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR
DISTRIBUTION IN OR INTO THE UNITED STATES. THIS DOCUMENT DOES NOT
CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR TO
OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, NOR MAY THE SECURITIES
BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN
EXEMPTION FROM REGISTRATION AS PROVIDED IN THE U.S. SECURITIES ACT OF
1933, AS AMENDED, AND THE RULES AND REGULATIONS THEREUNDER AND
APPLICABLE STATE LAWS. THERE IS NO INTENTION TO REGISTER ANY PORTION
OF THE OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING
OF SECURITIES IN THE UNITED STATES.

THE INFORMATION CONTAINED HEREIN SHALL NOT CONSTITUTE AN OFFER TO
SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY
SALE OF THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION IN
WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO
REGISTRATION, EXEMPTION OF REGISTRATION OR QUALIFICATION UNDER THE
SECURITIES LAWS OF ANY SUCH JURISDICTION.