UPM-Kymmene - Company Announcement

UPM applies for listing of the stock options 2005H

UPM-Kymmene Corporation  Stock Exchange Release 26 September 2008 at 09:30      

UPM applies for listing of the stock options 2005H on the stock exchange list of
the OMX Nordic Exchange Helsinki starting from 1 October 2008.                  

The total number of stock options 2005H is 3,000,000. Each stock option entitles
its holder to subscribe for one UPM-Kymmene Corporation share. In the aggregate,
the stock options 2005H entitle holders to subscribe for 3,000,000 shares.      

The dividends payable annually shall be deducted from the share subscription    
price. The current share subscription price for stock option 2005H is EUR       
20.15/share. The subscription prices will be recorded in the invested           
non-restricted equity fund. The share subscription period with stock options    
2005H will commence on 1 October 2008 and end on 31 October 2010.               

Stock option 2005 terms and conditions are available on the company's website at
www.upm-kymmene.com > Investor Relations > Shares > Option programs.            

UPM-Kymmene Corporation                                                         
Pirkko Harrela                                                                  
Executive Vice President, Corporate Communications                              

DISTRIBUTION                                                                    
OMX Nordic Exchange Helsinki                                                    
Main media                                                                      
www.upm-kymmene.com


UPM, Corporate Communications                                                   
Media Desk, tel. +358 40 588 3284                                               
communications@upm-kymmene.com