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*SHARES SUBSCRIBED WITH WARRANTS: STORA

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HEX HELSINKI     SECURITIES EXCHANGE   RELEASE 2/2004
                 SHARES                8 January 2004


SHARES SUBSCRIBED WITH WARRANTS: STORA ENSO OYJ

A total of 27 000 Stora Enso Oyj's R shares have been
subscribed with the Stora Enso Oyj's warrants attached to
the bond with warrants issued in 1997. The shares will be
traded on the Helsinki Exchanges as old R shares as of 9
January 2004.

Identifiers of Stora Enso Oyj's R share:


Trading code:                 STERV
ISIN code:                    FI0009005961
Number of shares:             683 078 419

HELSINKI EXCHANGES
Mikko Timonen

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