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Stora Enso shares converted and North American stock options

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STORA ENSO OYJ   Stock Exchange Announcement 15 December 2004 at 11.00


Stora Enso shares converted and North American stock options 
exercised

Conversion of A shares into R shares

During the 1–30 November 2004 conversion period there were 3 
conversions and a total of 8 654 A shares were converted into 
R shares. The shares were recorded in the Finnish trade register 
today, 15 December 2004, and trading in the new R shares will 
start on 16 December 2004.

Breakdown of shares after conversion:

A shares	179 048 523
R shares	658 194 876
Total	837 243 399


Stora Enso North America Option Programme

Following the acquisition of Consolidated Papers, Inc. the Board 
of Directors decided to convert the Consolidated Papers’ share 
option plans into Stora Enso share option plans. In November 
2004 a total of 32 214 R shares were subscribed against North 
American stock options. These R shares were previously held by 
the Company. 

After the subscription the Company holds: 

A shares	12 300
R shares	15 728 984


For further information, please contact:
Ulla Paajanen-Sainio, Vice President, Investor Relations and 
Financial Communications, tel. +358 2046 21242

STORA ENSO OYJ




p.p.  Jukka Marttila     Anu Vesmanen

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