M-real - Company Announcement

Standard & Poor's upgrades M-real's credit rating

M-real Corporation Stock Exchange Release 23 August 2010 at 15.35               

Standard & Poor's has today upgraded M-real Corporation's CCC+ rating to B-. The
outlook of the rating is stable.                                                
                                                                                
Upgrade has a positive impact of approximately EUR 1 million on M-real's current
annual financing costs.                                                         
                                                                                
M-REAL CORPORATION                                                              
                                                                                
Further information:                                                            
Matti Mörsky, CFO, tel. +358 10 465 4321                                        
Juha Laine, Vice President, IR and Communications, tel. +358 10 465 4335