*CONVERSION OF A SHARE INTO R SHARE: STORA ENSO OYJ

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EXCHANGE NOTICE 444/2004, 15 November 2004  SHARES

CONVERSION OF A SHARE INTO R SHARE: STORA ENSO OYJ

A total of 500 A shares converted into R shares of Stora
Enso Oyj will be traded together with the R shares of
Stora Enso Oyj as of 16 november 2004.

Identifiers of Stora Enso Oyj's A and R share:

Trading code:                        STEAV
ISIN code:                           FI0009005953
Orderbook id:                        24359
Number of shares:                    179 057 177


Trading code:                        STERV
ISIN code:                           FI0009005961
Orderbook id:                        24360
Number of shares:                    658 186 222


HELSINKI STOCK EXCHANGE
Janne Seppänen
Vice President Surveillance Finland

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