*STORA ENSO OYJ: SHARES SUBSCRIBED WITH

EX HELSINKI     SECURITIES EXCHANGE   RELEASE 96/2004
                 SHARES                23 March 2004

STORA ENSO OYJ: SHARES SUBSCRIBED WITH WARRANTS

A total of 75 000 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 24
March 2004.

Identifiers of Stora Enso Oyj's R share:


Trading code:                 STERV
ISIN code:                    FI0009005961
Number of shares:             683 386 666

HELSINKI EXCHANGES
Mikko Timonen

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