Metsäliitto Osuuskunta - Company Announcement

Arbitration proceedings related to Metsä Fibre Oy’s Shareholders’ Agreement completed

Metsä Group Stock Exchange Release 11 February 2014 at 2.30 pm EET


Metsä Group's parent company Metsäliitto Cooperative announced on 2 November
2012 the initiation by UPM-Kymmene Corporation of arbitration proceedings in
which UPM-Kymmene claimed jointly from Metsäliitto Cooperative and Metsä Board
Corporation primarily EUR 58.5 million in damages and secondarily to return an
EUR 58.5 million claimed unjust enrichment based on an alleged breach of the
tag-along clause specified in Metsä Fibre Oy's Shareholders' Agreement signed
in 2009. Metsäliitto Cooperative and Metsä Board Corporation divested in total
a 24.9 percent holding in Metsä Fibre Oy to Japan-based Itochu Corporation for
EUR 472 million in May 2012. 

The Arbitral Tribunal has in its judgment today, taken by vote, ordered
Metsäliitto Cooperative and Metsä Board Corporation to jointly compensate
UPM-Kymmene EUR 67.1 million for damages including arbitration costs and
penalty interests. Metsäliitto Cooperative's share of the total compensation
amounts to approximately EUR 47.5 million. The compensation will be included in
Metsä Group's first quarter result of 2014 as a non-recurring item. 

METSÄLIITTO COOPERATIVE

For further information, please contact:
Miika Arola, Group General Counsel tel. +358 10 465 4205