Ahlstrom - Company Announcement

Ahlstrom committed to further investments in the new Munksjö

Ahlstrom Corporation STOCK EXCHANGE RELEASE May 13, 2013 at 18.00 EET



Not to be distributed in or into Australia, Canada, the Hong Kong special
administrative region of the People's Republic of China, Japan, New Zealand,
South Africa or the United States.

Ahlstrom Corporation has today signed an amendment agreement with EQT, the
principal owner of Munksjö, related to the proposed combination of Ahlstrom's
Label and Processing business area and Munksjö AB, to create Munksjö Oyj, a
leading manufacturer of specialty papers. The amendment agreement covers an
additional equity investment in Munksjö Oyj and the net debt position of
Ahlstrom's Label and Processing business in Europe (LP Europe) and Munksjö AB as
per March 31, 2013. The agreement also details the consequences of the
commitments that Ahlstrom and Munksjö AB have provided to address the
competitive concerns of the European Commission with respect to the abrasive
backings and pre-impregnated decor paper businesses that are part of the planned
combination.

To strengthen the balance sheet and to address the consequences of the remedy
proposal made to the EU Commission, the parties have agreed to make an equity
investment in the new Munksjö Oyj totalling approximately EUR 28.5 million, in
addition to the previously agreed EUR 100 million. The equity investment will be
made by Ahlstrom, EQT and the shareholders of Munksjö AB through Munksjö AB.
Ahlstrom has increased its original commitment by EUR 16.0 million to EUR 78.5
million and EQT has increased its original commitment by EUR 1.0 million to EUR
13.5 million by subscribing and paying for additional new shares in Munksjö Oyj.
Munksjö AB's commitment amounts to EUR 11.5 million.

Based on the net debt determination of LP Europe as per March 31, 2013, Ahlstrom
will receive EUR 151.5 million related to a net debt transfer to Munksjö Oyj in
connection with the completion of the LP Europe part of the combination.
Further, it has been agreed that Munksjö AB's shareholders, based on the net
debt determination of Munksjö as per March 31, 2013, will receive a net debt
related compensation amounting to EUR 11.5 million, which the shareholders
intend to use for the equity investment in the new Munksjö Oyj, committed to by
Munksjö AB as mentioned above.

As a consequence of the commitments that Ahlstrom and Munksjö AB have provided
to the European Commission, the parties have agreed that Ahlstrom will purchase
back all the shares in Ahlstrom Osnabrück GmbH in Germany from Munksjö Oyj at an
enterprise value of EUR 48 million immediately after the LP Europe completion
has occurred. The abrasive backings and pre-impregnated decor paper businesses
will then be divested to a third party.

The commitments to the European Commission will affect the expected synergies of
the combination of Ahlstrom's Label and Processing business area and Munksjö AB
by approximately EUR 5 million annually. Consequently, the combination is
expected to create savings for Munksjö Oyj through synergies and efficiency
improvements in the range of EUR 20-25 million annually. Of the identified
synergies, a run-rate of about 60 per cent is expected to be achieved within 12
months following the LP Europe completion and the rest during the following two
years. Total costs to achieve these synergies are estimated to be EUR 10-15
million in cash, of which approximately EUR 6 million is expected to be incurred
during the first 12 months and the remainder during the following two years. In
addition to the synergies, further annual cost improvements of approximately EUR
10-15 million are expected related to standalone cost savings.

The LP Europe Completion is expected to take place on or before May 27, 2013,
provided that the relevant competition clearances, e.g. from the European
Commission, are obtained prior to that.



For more information, please contact:
Liisa Nyyssönen
Vice President, Communications
Tel. +358 10 888 4757



Ahlstrom in brief
Ahlstrom is a high performance fiber-based materials company, partnering with
leading businesses around the world to help them stay ahead. Our products are
used in a large variety of everyday applications, such as filters, medical gowns
and drapes, diagnostics, wallcoverings, flooring and food packaging. We have a
leading market position in the businesses in which we operate. In 2012,
Ahlstrom's net sales from the continuing operations (excluding Label and
Processing business) amounted to EUR 1 billion. Our 3,800 employees serve
customers in 28 countries on six continents. Ahlstrom's share is quoted on the
NASDAQ OMX Helsinki. More information available at www.ahlstrom.com.



Disclaimer
This document may not be distributed in or into Australia, Canada, the Hong Kong
special administrative region of the People's Republic of China, Japan, New
Zealand, South Africa or the United States. The information contained herein
shall not constitute an offer to sell or the solicitation of an offer to buy the
securities referred to herein in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration, exemption from
registration or qualification under the securities laws of any such
jurisdiction.

This document is not an offer for sale of securities in the United States.
Securities may not be offered or sold in the United States absent registration
or an exemption from registration under the U.S. Securities Act of 1933, as
amended. Ahlstrom Corporation, Munksjö AB and Munksjö Corporation have not
registered, and do not intend to register, any offering of the Munksjö shares in
the United States. There will be no public offering of the Munksjö shares in the
United States. This document is only being distributed to and is only directed
at (i) persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth
companies, and other persons to whom it may lawfully be communicated, falling
within Article 49(2)(a) to (d) of the Order or (iv) persons who are members or
creditors of the company to which this communication relates, falling within
article 43(2) of the Order (all such persons in (i), (ii) (iii) and (iv) above
together being referred to as "relevant persons"). Any investment activity to
which this document relates will be only available to and will be engaged in
only with, relevant persons. Any person who is not a relevant person should not
act or rely on this document or any of its contents. 

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