UPM-Kymmene - Major shareholder announcements

Norges Bank's holding of UPM shares and voting rights through financial instruments has gone below the threshold of 5 per cent

UPM-Kymmene Corporation   Stock Exchange Release   20 April 2016 at 10:45 EET

Norges Bank's holding of UPM shares and voting rights through financial
instruments has gone below the threshold of 5 per cent

UPM-Kymmene Corporation has on 19 April 2016 received an announcement under
Chapter 9, Section 6 a of the Securities Markets Act, according to which Norges
Bank's (The Central Bank of Norway) holding of UPM shares and voting rights
through financial instruments has gone below the threshold of 5 per cent on 18
April 2016.

According to the announcement, Norges Bank's holding of UPM shares and voting
rights through financial instruments has decreased to 26,469,887 shares,
corresponding to 4.96 per cent of UPM shares and voting rights. The total number
of UPM shares and voting rights owned directly or through financial instruments
by Norges Bank was 7.54 per cent on 18 April 2016. UPM's registered total number
of shares and voting rights amounting to 533,735,699 has been used in the
calculation of percentages for the announcement.

Total positions of Norges Bank subject to the notification:

+-----------------------+----------------+---------------------+---------------+
|                       |% of shares and |% of shares and      |Total of both  |
|                       |voting rights   |voting rights through|in %           |
|                       |(total of A)    |financial instruments|(A + B)        |
|                       |                |(total of B)         |               |
+-----------------------+----------------+---------------------+---------------+
|Resulting situation on |2.58%           |4.96%                |7.54%          |
|the date on which      |                |                     |               |
|threshold was crossed  |                |                     |               |
|or reached             |                |                     |               |
+-----------------------+----------------+---------------------+---------------+
|Position of previous   |0.89%           |6.71%                |7.60%          |
|notification (if       |                |                     |               |
|applicable)            |                |                     |               |
+-----------------------+----------------+---------------------+---------------+

Notified details of the resulting situation on the date on which the threshold
was crossed or reached:

A: Shares and voting rights

+------------------+----------------+--------------+------------+--------------+
|Class/type of     |Number of shares|Number of     |% of shares |% of shares   |
|shares            |and voting      |shares and    |and voting  |and voting    |
|                  |rights          |voting rights |rights      |rights        |
+------------------+----------------+--------------+------------+--------------+
|ISIN code (if     |Direct (SMA 9:5)|Indirect (SMA |Direct (SMA |Indirect (SMA |
|possible)         |                |9:6 and 9:7)  |9:5)        |9:6 and 9:7)  |
+------------------+----------------+--------------+------------+--------------+
|FI0009005987      |13,796,675      |              |2.58%       |              |
+------------------+----------------+--------------+------------+--------------+
|SUBTOTAL A        |13,796,675      |              |2.58%       |              |
+------------------+----------------+--------------+------------+--------------+

B: Financial Instruments according to SMA 9:6a

+------------+------------+--------------------+-----------+-----------+-------+
|Type of     |Expiration  |Exercise/Conversion |Physical or|Number of  |% of   |
|financial   |date        |period              |cash       |shares and |shares |
|instrument  |            |                    |settlement |voting     |and    |
|            |            |                    |           |rights     |voting |
|            |            |                    |           |           |rights |
+------------+------------+--------------------+-----------+-----------+-------+
|Shares on   |N/A         |At any time         |           |26,469,887 |4.96%  |
|Loan (right |            |                    |           |           |       |
|to recall)  |            |                    |           |           |       |
+------------+------------+--------------------+-----------+-----------+-------+
|            |            |                    |           |           |       |
+------------+------------+--------------------+-----------+-----------+-------+
|            |            |                    |SUBTOTAL B |26,469,887 |4.96%  |
+------------+------------+--------------------+-----------+-----------+-------+

Person subject to the notification obligation is not controlled by any natural
person or legal entity and does not control any other undertaking(s) holding
directly or indirectly an interest in the (underlying) issuer.


UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Stakeholder Relations

UPM, Media Relations
9.00-16.00 EET
tel. +358 40 588 3284
media@upm.com

www.twitter.com/UPM_News
www.facebook.com/UPMGlobal
www.linkedin.com/company/upm-kymmene

UPM
Through the renewing of the bio and forest industries, UPM is building a
sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM
Raflatac, UPM Paper Asia, UPM Paper Europe and North America and UPM Plywood.
Our products are made of renewable raw materials and are recyclable. We serve
our customers worldwide. The group employs around 19,600 people and its annual
sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX
Helsinki. UPM - The Biofore Company - www.upm.com


[HUG#2005047]