M-real - Company Announcement

Transaction regarding the new ownership structure of Metsä-Botnia closed

M-real Corporation Stock Exchange Release on 8 December 2009 at 3 pm

M-real Corporation, a part of Metsäliitto Group, announced on 22
October 2009 that Oy Metsä-Botnia Ab, and its owners, M-real,
Metsäliitto Cooperative and UPM-Kymmene Oyj, have signed the master
agreement regarding the new ownership structure of Metsä-Botnia and
the divestment of Metsä-Botnia's Uruguayan operations to UPM.

Transaction was closed on 8 December 2009 based on earlier announced
facts.

Closing of the transaction reduces M-real's net debt by about EUR 500
million, including EUR 300 million cash portion.

For further information, please contact:

Matti Mörsky, CFO, tel. +358 10 465 4913
Juha Laine, Vice President, Investor Relations and Communications,
tel. +358 10 465 4335