M-Real - Company Announcement

Annual information 2006

This list collects the stock exchange bulletins and announcements
that have been published by M-real in 2006. The documents listed
below can be obtained from the website www.m-real.com

Financial information

08.02.2006                  Financial results for 2005
27.04.2006                  Interim report January - March
27.07.2006                  Interim report January - June
25.10.2006                  Interim report January - September

Stock Exchange Bulletins

15.12.2006                  M-real to close its mill in
Sittingbourne

15.12.2006                  M-real reorganises its management

01.12.2006                  M-real's EUR 400 million Eurobond
subscribed

23.11.2006                  M-real to issue a Eurobond

16.11.2006                  European Commission to close
investigations into magazine paper

15.11.2006                  M-real Corporation asks UPM-Kymmene for
further clarifications necessary in order to
                                  consider the offer for
Metsä-Botnia's shares

09.11.2006                  M-real's competitor UPM seeks control of
M-real's strategic pulp supplier

25.10.2006                  M-real's third-quarter result before
taxes improved

18.10.2006                  M-real initiates extensive restructuring
programme

18.10.2006                  Mikko Helander new CEO for M-real

09.08.2006                  European Commission closed their fine
paper investigation

04.08.2006                  Standard & Poor's downgraded M-real's
credit rating

27.07.2006                  M-real appoints Gregory Gettinger
Executive Vice President of Publishing business area

27.07.2006                  M-real's second quarter result before
taxes negative

07.07.2006                  Moody's downgrades M-real's credit
rating

30.06.2006                  M-real's credit rating on CreditWatch

30.06.2006                  M-real Corporation estimates the second
quarter result excluding non-recurring items
                                  clearly weaker than expected

30.06.2006                  M-real sells the unprofitable Pont Sainte
Maxence mill

19.06.2006                  M-real appoints new CFO

24.05.2006                  Investment and maintenance shutdowns and
non-recurring costs will weaken M-real's result
                                  for the second quarter of 2006

15.05.2006                  Strike shuts down production in M-real's
Finnish mills

27.04.2006                  Positive result before taxes for M-real's
first quarter

29.03.2006                  M-real successfully completes Eurobond
benchmark issue

16.03.2006                  M-real will launch a EUR 500 million
Eurobond issue

13.03.2006                  Resolutions of M-real's Annual General
Meeting

28.02.2006                  Moody's downgrades M-real's credit
rating

08.02.2006                  Standard & Poor's downgraded M-real's
credit rating

08.02.2006                  Labour dispute in Finland weakened
M-real's profitability in 2005

11.01.2006                  M-real Corporation's fourth quarter
result weaker than expected mainly due to EUR 40
                                  million non-recurring expenses

Stock Exchange Announcements

24.11.2006                  Changes to the Financial Reporting dates
announced 26.10.2006

10.11.2006                  M-real appoints Mika Joukio Executive
Vice President and head of the Consumer Packaging
                                  business area

26.10.2006                  M-real Corporation's financial reporting
in 2007

18.10.2006                  Invitation to M-real teleconference on 18
October, 2006

13.10.2006                  Invitation to teleconference on 25
October, 2006

29.09.2006                  M-real and Kyro reach agreement
concerning the Kyröskoski Power Plant

24.08.2006                  Notice pursuant to the Securities Market
Act, chapter 2, section 10: Shareholding of Hermes
                                  Focus Asset Management Europe Ltd.
in M-real Corporation has increased

14.07.2006                  Invitation to teleconference on 27 July,
2006

12.04.2006                  Invitation to teleconference on 27 April,
2006

13.03.2006                  The resolutions of M-real's Board of
Directors organising meeting

08.03.2006                  Notice pursuant to the securities market
act, chapter 2, section 10: Shareholding of Varma
                                  Mutual Pension Insurance Company in
M-real Corporation has increased

08.02.2006                  Notice of Annual General Meeting

17.01.2006                  Invitation to teleconference on 8
February, 2006