UPM-Kymmene - Company Announcement

UPM intends to delist from the New York Stock Exchange and deregister under the Securities Exchange Act of 1934

(UPM, Helsinki, October 30, 2007 at 12:00) - UPM-Kymmene Corporation has
decided to terminate listing of its American Depositary Shares (ADS) from the
New York Stock Exchange (NYSE) and seek deregistration and termination of its
reporting obligations under the Securities Exchange Act of 1934. 

UPM plans to maintain its American Depositary Receipt (ADR) program as a "level 
one sponsored ADR facility" so that US investors may continue to hold their     
securities and trade them in the US over-the-counter market.  UPM's ADSs are not
listed on any stock exchange other than the NYSE and UPM's shares are not listed
for trading anywhere else in the United States.                                 

"The US customers and investors continue to be very important for UPM. However, 
due to the further globalization of the capital markets and stock exchanges, the
US capital markets no longer provide any unique benefit over the euro markets.  
In addition, Finnish laws, based on EU legislation, meet international          
standards," says Jyrki Salo, Executive Vice President and CFO of UPM.           

"UPM is very committed to a high level of transparency and to good corporate    
governance procedures in financial reporting and internal controls.  As a US    
reporting company, UPM has found compliance with the corporate governance,      
financial reporting and internal control requirements to be beneficial when     
harmonising our processes and controls.  The cost factor plays no material role 
in this decision," he adds.                                                     

UPM currently intends to seek to have trading in its ADSs on the NYSE cease by  
the end of 2007.  In addition to delisting from the NYSE and terminating its    
related Exchange Act reporting obligation, UPM intends to file a Form 15F with  
the SEC (U.S. Securities and Exchange Commission) to terminate its other        
registration and reporting obligations under the Exchange Act. Upon the filing  
of Form 15F, UPM's other reporting obligations will be suspended immediately.   
These reporting obligations will be finally terminated after a 90-day waiting   
period provided that the SEC does not raise objections.                         

After terminating its Exchange Act reporting obligations, UPM intends to        
continue to publish all financial information required under Finnish securities 
laws on its Internet pages in the English language.                             

UPM has been listed on the New York Stock Exchange and subject to the Exchange  
Act accounting and reporting requirements since June 1999.  The decision does   
not affect UPM's listing on the Helsinki Stock Exchange.                        

For further information please contact:                                         
Mr Jyrki Salo, Executive Vice President and CFO, UPM, tel. +358 204 15 0011     
Mr Olavi Kauppila, Senior Vice President, Investor Relations,                   
tel. +358 204 15 0658                                                           

UPM-Kymmene Corporation                                                         

Pirkko Harrela                                                                  
Executive Vice President, Corporate Communications                              

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OMX Nordic Exchange Helsinki                                                    
New York Stock Exchange                                                         
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