M-real - Company Announcement

Changes in M-real's management and reporting structure

M-real Corporation Stock Exchange Release 5 January 2009

Following the divestment of Graphic Papers business M-real
Corporation, a part of Metsäliitto Group, operates through three
business areas: Consumer Packaging, Office Papers and Other Papers.
Additionally, the M-real reporting structure includes Market Pulp and
Energy segment.

The remaining ex-Graphic Papers business area's mills are managed as
follows:
- Äänekoski Paper mill is a part of Consumer Packaging business area
and Husum paper mill's machine 8 a part of Office Papers business
area. Both are producing for Sappi under long-term contracts.
- Other Papers business area consists of Reflex, Gohrsmühle and
Hallein mills.
- Kaskinen BCTMP mill is managed by Consumer Packaging business area.

M-real's Corporate Management Team consists of the following persons:
- Mikko Helander, CEO, Head of Other Papers business area in addition
to his other duties
- Seppo Parvi, CFO & Deputy to the CEO
- Mika Joukio, SVP, Head of Consumer Packaging business area
- Seppo Puotinen, SVP, Head of Office Papers business area
- Matti Mörsky, SVP, Business development
- Mika Paljakka, SVP, HR and TQM
- Jarmo Salonen, SVP, Resources, Market Pulp and Energy

The new management structure is effective immediately.

Restated historical figures based on the new segment structure will
be released before the announcement of full year 2008 financial
result on 5 February 2009.

M-REAL CORPORATION

Further information:
Juha Laine, VP, IR and Communications, tel. +358 10 465 4335