Stora Enso signs EUR 1.75 billion syndicated loan

STORA ENSO OYJ  Stock Exchange Release 26 January 2005 at 9.00

Stora Enso signs EUR 1.75 billion syndicated loan

Stora Enso has signed a new EUR 1.75 billion syndicated credit 
facility agreement with a group of 23 banks. The facility, which 
has a maturity of five years, is for general corporate purposes 
including the refinancing of existing EUR 2.5 billion syndicated 
facility. The new loan facility has a margin of 0.275% p.a. over 

Mandated Lead Arrangers for the transaction are BNP Paribas, 
Citibank, JP Morgan and SEB.

Arrangers: ABN AMRO, Bank of America, Barclays, Commerzbank, 
Calyon, Danske Bank, Deutsche Bank, Dresdner Bank, Goldman 
Sachs, ING, KBC Bank, Merrill Lynch, Morgan Stanley, Nordea, 
OKO, Sampo Bank, Svenska Handelsbanken, The Bank of Tokyo-
Mitsubishi, UBS.

The rational for refinancing was primarily to save costs by 
taking advantage of prevailing market conditions and to prolong 
the maturity.

For further information, please contact:
Markus Rauramo, Senior Vice President, Group Treasurer, 
tel. +44 20 7016 3250
Peter Nordquist, Vice President, Funding, tel. +44 20 7016 3266
Keith B Russell, Senior Vice President, Investor Relations, 
tel. +44 20 7016 3146


p.p.  Jukka Marttila     Veli-Matti Tahvanainen