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NOTICE PURSUANT TO THE SECURITIES MARKET ACT, CHAPTER 2, SECTION

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M-real Corporation Stock Exchange Announcement 11.10.2004 at 12.30
p.m.


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

According to the information received by M-real Corporation, the
holdings of FMR Corp. (FMR Corp. is a subsidiary of Fidelity
Management and Research Company) and its direct and indirect
subsidiaries have decreased under 5 % of the total share capital
of M-real being 3.18 %.

As of October 11, 2004 FMR Corp. and its direct and indirect
subsidiaries own a total of 9.258.330 M-real B series shares. The
holdings of FMR Corp. correspond to 3.18 % of total share capital
and to 0.09% of the total voting rights of M-real.
                  
M-REAL CORPORATION

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