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2008-07-11 17:30:00 CEST 2008-07-11 17:30:02 CEST REGULATED INFORMATION Stora Enso Oyj - Company AnnouncementStora Enso's associated company Veracel's permits questionedSTORA ENSO OYJ STOCK EXCHANGE RELEASE 11 July 2008 at 15.30 GMT Stora Enso's associated company Veracel in Brazil has received a decision issued by a federal judge in Bahia originating from a claim of 1993 in which Veracel (at that time Veracruz Florestal Ltda.) was accused of having deforested a minor area (64 hectares) of native forest in 1993. In the decision, the judge claims i.a. that Veracel's permits issued by the State of Bahia are not valid and that no environmental impact assessment study was undertaken for the licensing. According to the decision, 47 000 hectares of Veracel's current plantations should be cut down and reforested within one year with native trees. The decision also imposes a possible fine of BRL 20 million (EUR 8 million) on Veracel. Veracel has not recorded any provision for either the reforestation or the possible fine. Veracel operates in full compliance with all Brazilian laws. An extensive environmental impact assessment study was undertaken in 1994-1995 as part of the legal permit requirements. Veracel has obtained all the necessary environmental and operating licences for its industrial and forestry activities from the Brazilian environmental authorities. Veracel vigorously disputes the findings of the court and is analysing the content of the decision, Veracel's position and how to respond appropriately to the allegations. Veracel has asked the court for clarification of the judgement and also will appeal against the same. The preparation work for possible expansion of Veracel will continue. For further information, please contact: Nils Grafström, President, Stora Enso Latin America, tel. +55 1181 759 283 Kari Vainio, EVP, Corporate Communications, tel. +44 7799 348 197 Ulla Paajanen-Sainio, Vice President, Investor Relations and Financial Communications, tel. +358 40 763 8767 More information on Veracel web site www.veracel.com.br www.storaenso.com www.storaenso.com/investors Veracel Pulp Mill, a 50/50 joint venture between Stora Enso and Aracruz, started sustainable production of low-cost, high-quality eucalyptus pulp in May 2005. Veracel Pulp Mill has an annual production capacity of one million tonnes. Pulp deliveries from Veracel to Stora Enso totalled around 500 000 tonnes in 2007 and were mainly shipped Stora Enso's mills in Europe and China. STORA ENSO OYJ Jyrki Kurkinen Ulla Paajanen-Sainio |
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