EU's examination of Stora Enso merger continues

In a bulletin released today, the EU competition authorities announced that more time will be needed to examine the proposed merger of STORA and Enso. Preparations for the merger of STORA and Enso are continuing. Implementation of the Combination Agreement requires, among other things, that the EU competition authorities have finalized their examination of the proposed merger. The acceptance period for the public offer to STORA shareholders began on July 27 and is currently in progress. Under the terms approved by an extraordinary meeting of Enso's shareholders, Enso's Board of Directors has the right to extend the acceptance period, in one or more periods, up to March 31, 1999. No decision has yet been taken regarding any extension of the acceptance period. A new announcement will be made of any such decision. For further information, please contact: - Sten Holmberg, Vice President Planning and Analysis, STORA, tel: +46-(0)70 559 99 35 or +46-(0)23 78 00 00