Stora Enso?s deferred tax liabilities wi

STORA ENSO OYJ  Stock Exchange Release 2 July 2004 at 09.30

Stora Enso’s deferred tax liabilities will decrease as a result 
of new Finnish tax legislation

On 30 June 2004 the Finnish parliament passed new tax 
legislation including a reduction in the corporate tax rate from 
29% to 26% and a change in the tax treatment of capital gains 
and losses. As a result of these changes, Stora Enso’s net 
deferred tax liabilities as per 31 December 2003 will decrease 
by about EUR 20 million, of which EUR 40 million is due to the 
change in tax rate and EUR -20 million due to the change in 
taxation of capital gains and losses. 

The net change will credit taxes in the Q2/2004 Profit and Loss 
Statement. It will not have any immediate cash flow effect. 


For further information, please contact:
Esko Mäkeläinen, CFO, tel. +44 20 7016 3115
Kari Vainio, EVP, Corporate Communications, tel. 
+44 7799 348 197
Keith B Russell, SVP, Investor Relations, tel. +44 20 7016 3146


www.storaenso.com
www.storaenso.com/investors


STORA ENSO OYJ



p.p. Jussi Siitonen  Minna Taukojärvi