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NOTICE PURSUANT TO THE SECURITIES MARKET

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M-real Corporation Stock Exchange Announcement 15.9.2004 at 3.30
p.m.

NOTICE PURSUANT TO THE SECURITIES MARKET ACT, CHAPTER 2, SECTION
10: HOLDINGS OF FMR CORP. IN M-REAL CORPORATION ABOVE 5 %

According to the information received by M-real Corporation, the
holdings of FMR Corp. and its direct and indirect subsidiaries
have increased above 5 % of the total share capital of M-real.

As of September 8, 2004 FMR Corp. and its direct and indirect
subsidiaries own a total of 9,258,367 M-real B series shares. The
holdings of FMR Corp. correspond to 5,2 % of the share capital and
to 1 % of the total voting rights of M-real.
                  
M-REAL CORPORATION

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