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M-real's credit rating by Standard & Poor's downgraded (4 March, 2005)

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M-real Corporation Stock Exchange Bulletin 4.3.2005 at 1 p.m.


Standard & Poor's Ratings Services has today downgraded M-real Corporation's
rating from BB+ to BB. The outlook for the rating has been changed from
negative to stable. 
 
Downgrade has no impact on the financing costs.


M-REAL CORPORATION


Corporate Communications


For additional information contact Executive Vice President and CFO Juhani Pöhö
tel +358 10 469 5283 


M-real Corporation, headquartered in Finland and employing some 16,000 people,
is a European paper and paperboard company, providing premium solutions for
consumer packaging, communications and advertising end-uses. Through its
worldwide sales network, M-real serves its customers who mostly comprise
publishers, printers, paper merchants, offices and well-known consumer product
companies and carton printers. M-real is listed on the Helsinki Stock Exchange.
Its turnover in 2004 was EUR 5.5 billion. 

www.m-real.com

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