M-real - Notice to general meeting

Notice of annual general meeting

M-real Corporation Stock Exchange Release 6.2.2008

Notice is hereby given that the Annual General Meeting of M-real
Corporation will be held on Thursday, 13 March 2008, at 3.00 p.m in
Alminsali of the Finnish National Opera at the address Helsinginkatu
58, Helsinki (entrance on the Töölönlahti side).

The agenda of the meeting includes the matters within the competence
of the Annual General Meeting under Article 10 of the Articles of
Association and Chapter 5, Paragraph 3 of the Companies Act as well
as the matters stated in Item 5 of this notice of meeting:

1. Presentation of the financial statements, report of the Board of
Directors and auditors' report

2. Adoption of the financial statements

3. Consideration of the result for the financial year and dividend
The Board of Directors has decided to propose to the Annual General
Meeting that a dividend of EUR 0.06 per share be paid for the
financial year 2007. The dividend will be paid to shareholders who on
the record date 18 March 2008, have been entered in the company's
Shareholders Register kept by the Finnish Central Securities
Depository Ltd. The Board of Directors proposes to the Annual General
Meeting that the dividend be paid on 27 March 2008.

4. Granting of release from liability to the members of the Board of
Directors, the chief executive and the chief executive's deputy

5. Amending the Articles of Association

The Board of Directors proposes to the Annual General Meeting that
the Articles of Association of the company shall be amended as
follows:


  * 4 § (Share Capital): Stipulation on the minimum and maximum share
    capital shall be deleted. In addition, the record date provisions
    of the book-entry system shall be deleted.
  * 5 § (Par value): The entire section concerning par value of
    company's share shall be deleted.
  * 10 § (Matters decided by the Shareholders Meeting): Section shall
    be changed to correspond to the wordings of the new Companies
    Act.
  * 11 § (Board of Directors): The maximum number of board members
    shall be changed to ten (10) instead of eight (8).
  * 14 § (Auditor): Section shall be changed so that the company
    shall have one auditor, which shall be an auditing company
    approved by the Central Chamber of Commerce. The auditors' term
    of office shall expire at the end of the Annual General Meeting
    next following the election.


In addition, the numbering of the Articles of Association shall be
amended accordingly and other technical changes made as required by
the amendments.


6. Remuneration of members of the Board of Directors
The Board of Directors' Nomination Committee proposes to the Annual
General Meeting that the remuneration for the members of the Board of
Directors be kept unchanged, i.e. the Chairman shall be paid EUR
6,375/month, Vice Chairman EUR 5,375/month and ordinary members EUR
4,200/month. In addition, a fee of EUR 500 shall be paid for each
meeting of the Board of Directors and its committees.

7. The number of members of the Board of Directors
The Board of Directors' Nomination Committee proposes to the Annual
General Meeting that the number of members of the Board of Directors
shall be kept unchanged at eight (8) members.

8. Election of the members of the Board of Directors
The Board of Directors' Nomination Committee proposes to the Annual
General Meeting that Board members Mr. Heikki Asunmaa, Mr. Kari
Jordan, Mr. Erkki Karmila, Mr. Runar Lillandt, Mr. Juha Niemelä and
Mr. Antti Tanskanen be re-elected as members and Mr. Martti Asunta
and Mr. Kai Korhonen elected as new members of the Board of Directors
for the next term of office that will continue until the end of the
next Annual General Meeting.

9. Auditor's fee
The Board of Directors proposes in accordance with the Audit
Committee's recommendation that a fee in accordance with the
auditor's invoice shall be paid to the auditor who is elected by the
Annual General Meeting.

10. Election of the auditor
According to the proposed new Articles of Association of M-real
Corporation, the company shall have one auditor, which shall be an
auditing company approved by the Central Chamber of Commerce. The
auditors' term of office shall expire at the end of the Annual
General Meeting next following the election.

The Board of Director proposes in accordance with the Audit
Committee's recommendation that PricewaterhouseCoopers Oy, with Göran
Lindell, Authorized Public Accountant, acting as principal auditor be
elected as auditor.


Public posting of documents
The financial statement documents and the Board of Directors'
proposals are available for public inspection at the company's head
office at the address Revontulentie 6, 02100 Espoo, for one week
before the Annual General Meeting. Copies of these documents will be
sent to shareholders upon request.

Right to participate in and vote at the Annual General Meeting
Those shareholders are entitled to participate in the Annual General
Meeting who
1) have been entered in the Shareholders Register kept by Finnish
Central Securities Depository Ltd by Monday, 3 March 2008, and
2) who have registered for the Annual General Meeting no later than
4.00 p.m. on Monday, 10 March 2008.

Registration to the Shareholders Register
A shareholder in whose name the shares are recorded is automatically
entered in the company's Shareholders Register. A nominee-registered
shareholder can be temporarily entered in the company's Shareholders
Register in order to participate in the Annual General Meeting,
provided this is done by 3 March 2008.

Registration for the Annual General Meeting
Shareholders can register for the Annual General Meeting either by
telephone on +358 1046 54530, telefax on +358 1046 54529 or by email
at the address eija.niittynen@m-real.com, or in writing at the
address M-real Oyj, Eija Niittynen, P.O. Box 20, FI-02020 Metsä,
Finland.

Advance delivery of proxies
A proxy entitling an authorized person to vote on behalf of a
shareholder at the Annual General Meeting must be delivered to the
above-mentioned address before the close of the registration period
at 4.00 p.m. on Monday, 10 March 2008.

Espoo, 6 February 2008

M-real Corporation
Board of Directors