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M-REAL INITIATES COST SAVINGS AND EFFICIENCY IMPROVEMENT PROGRAMME IN ITS SWEDISH OPERATIONS

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M-real Corporation Stock Exchange Bulletin 15.2.2005 at 10 a.m.


M-REAL INITIATES COST SAVINGS AND EFFICIENCY IMPROVEMENT PROGRAMME IN


M-real has initiated a programme to enhance productivity and
profitability at Wifsta and Husum mills in Sweden. The target is to
reduce costs by at least SEK 200 million and reach a 15% productivity
increase by the end of the year 2006. An important element in the
programme is the planned integration of Wifsta into Husum
organisation. Negotiations with Labour Unions at M-real’s Wifsta and
Husum mills have been started regarding the actions of the programme.

The programme is part of M-real’s Cost Savings and Efficiency
Improvement programme 2004 – 2006. The final decision and estimate of
potential one-time costs are expected to be made during second
quarter 2005.

M-REAL CORPORATION


Corporate Communications

For additional information contact Juhani Pöhö, Chief Financial
Officer, tel. +358 10 469 5283 or Peter Sandberg, Executive Vice
President, Office Papers, tel. +31 20 572 7560

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