Metsäliitto Osuuskunta - Company Announcement

Metsä-Botnia becomes a subsidiary of Metsäliitto Cooperative

Metsäliitto Group Stock exchange release 8 December 2009 at 3 p.m.

Metsä-Botnia becomes a subsidiary of Metsäliitto Cooperative

The ownership arrangement concerning Oy Metsä-Botnia Ab announced by
Metsäliitto Group at the end of October was concluded today on 8
December in accordance with the earlier announcement. Following the
conclusion of the arrangement, Metsäliitto Cooperative became the
majority shareholder of Metsä-Botnia.

Metsä-Botnia's Uruguay functions included in the agreement comprise
the majority holdings of the Fray Bentos pulp mill and Forestal
Oriental, a company specialising in eucalyptus cultivation.
Metsä-Botnia and Metsäliitto Cooperative sold their holdings in these
operations to UPM. The share sold by Metsä-Botnia is 82.1%, while
that of Metsäliitto is 5.5%. The total debt-free enterprise value of
the Uruguay operations was agreed at about EUR 1.6 billion.

In connection with the arrangement, Metsäliitto Cooperative also
purchases 24.7% of Metsä-Botnia's shares from UPM and 3.0% from
M-real. Now that the arrangement has been concluded, Metsäliitto
Cooperative owns about 53% of Metsä-Botnia, M-real about 30% and UPM
about 17%. As part of the arrangement, Metsä-Botnia sold 77% of its
shares in Pohjolan Voima Oy to UPM. The arrangement's net cash impact
for Metsäliitto Cooperative is approximately EUR 110 million
negative. The total debt-free enterprise value of Metsä-Botnia
without its Uruguay operations and Pohjolan Voima Oy shares was
agreed at approximately EUR 1.9 billion.

For further information:
Esa Kaikkonen, General Counsel, Metsäliitto Group, tel. +358 10 465
4749
Anne-Mari Achrén, Group CCO, Metsäliitto Group, tel. +358 10 465 4541