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*CONVERSION OF A SHARE INTO R SHARE AND

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HEX HELSINKI     SECURITIES EXCHANGE   RELEASE 10/2004
                 SHARES                15 January 2004


CONVERSION OF A SHARE INTO R SHARE AND SUBSCRIPTION WITH
WARRANTS: STORA ENSO OYJ

A total of 27 906 converted A shares of Stora Enso Oyj
into R shares and 195 000 R shares subscribed with
warrants attached to the bond with warrants 1997 will be
traded together with the R shares of Stora Enso Oyj as of
16 January 2003.

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

Trading code:                        STEAV
ISIN code:                           FI0009005953
Number of shares:                    181 183 174


Trading code:                        STERV
ISIN code:                           FI0009005961
Number of shares:                    683 301 325


HELSINKI EXCHANGES
Mikko Timonen

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