M-real - Company Announcement

Non-recurring items in M-real's 4Q 2011 results

M-real Corporation Stock Exchange Release on 13 January 2012 at 10.00 am EET


M-real Corporation, a part of Metsäliitto Group, is expected to book
approximately EUR 205 million negative non-recurring items in the operating
result of the last quarter of 2011. The main items are the following: 

  -- EUR 105 million cost provisions and write-downs in Office Papers business
     area related to the planned closure of the Alizay mill announced on 18
     October 2011.
  -- EUR 70 million cost provisions and write-downs in Speciality Papers
     business area related to the planned discontinuation of the unprofitable
     production at Gohrsmühle and Reflex mills announced on 18 October 2011.
  -- EUR 25 million impairment of assets, write-downs and cost provisions in
     Consumer Packaging business area related to the restructuring at Äänekoski
     mill including the closure of the paper machine 2 announced on 2 November
     2011.
  -- EUR 5 million additional cost provisions and adjustments to the sales price
     in Market Pulp and Energy related to the divestment of Hallein pulp mill
     materialised in September 2011.

Of the total non-recurring items approximately EUR 190 million will have an
impact at the EBITDA level. The write offs will reduce M-real's annual
depreciations by approximately EUR 2 million from 2012 onwards. 

M-real will announce the financial statements 2011 on 9 February 2012.


M-REAL CORPORATION


For further information, please contact:
Matti Mörsky, CFO, tel. +358 10 465 4913
Juha Laine, Vice President, Investor Relations and Communications, tel. +358 10
465 4335