UPM-Kymmene - Company Announcement

Regulatory authorities have approved the sale of UPM’s packaging paper operations of the Pietarsaari and Tervasaari mills to Billerud

UPM-Kymmene Corporation        Stock exchange release        22 May 2012 at
9.00 EET 

UPM's sale of its packaging paper operations of the Pietarsaari and Tervasaari
mills to the Swedish paper company Billerud has been approved by the regulatory
authorities. UPM and Billerud announced the transaction on 1 February 2012. 

The closing of the transaction is expected to take place during the second
quarter of 2012. The enterprise value of the transaction is EUR 130 million. 

For further information please contact:
Jyrki Ovaska, President, Paper Business Group, UPM, tel: +358 2041 50564

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

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