UPM-Kymmene - Major shareholder announcements

BlackRock’s holding in UPM has gone below the threshold of 5 per cent

UPM-Kymmene Corporation   Stock Exchange Release   13 February 2015 at 10.50 EET

BlackRock's holding in UPM has gone below the threshold of 5 per cent

UPM-Kymmene Corporation has on 12 February 2015 received an announcement under
Chapter 9, Section 5 of the Securities Markets Act, according to which
BlackRock, Inc.'s indirect holding in UPM has gone below the threshold of 5 per
cent on 11 February 2015. 

According to the announcement, the indirect holding of BlackRock, Inc. in UPM
has decreased from 26,867,193 shares to 26,249,166 shares, corresponding to
4.92 per cent of UPM's shares and voting rights. 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. 

BlackRock, Inc.'s indirect holding is divided among its controlled undertakings
as follows: 

Legal Entity                                                 Votes       Holding
--------------------------------------------------------------------------------
BlackRock (Luxembourg) S.A.                                     115,903    0.02%
--------------------------------------------------------------------------------
BlackRock (Netherlands) B.V.                                    211,571    0.04%
--------------------------------------------------------------------------------
BlackRock Advisors (UK) Limited                               1,891,599    0.35%
--------------------------------------------------------------------------------
BlackRock Advisors, LLC                                         122,044    0.02%
--------------------------------------------------------------------------------
BlackRock Asset Management Canada Limited                       229,274    0.04%
--------------------------------------------------------------------------------
BlackRock Asset Management Deutschland AG                       597,855    0.11%
--------------------------------------------------------------------------------
BlackRock Asset Management Ireland Limited                    2,010,693    0.38%
--------------------------------------------------------------------------------
BlackRock Asset Management North Asia Limited                     3,494    0.00%
--------------------------------------------------------------------------------
BlackRock Financial Management, Inc.                            327,394    0.06%
--------------------------------------------------------------------------------
BlackRock Fund Advisors                                       7,622,412    1.43%
--------------------------------------------------------------------------------
BlackRock Fund Managers Limited                                 387,637    0.07%
--------------------------------------------------------------------------------
BlackRock Institutional Trust Company, National Association   8,652,048    1.62%
--------------------------------------------------------------------------------
BlackRock International Limited                                 102,411    0.02%
--------------------------------------------------------------------------------
BlackRock Investment Management (Australia) Limited             245,377    0.05%
--------------------------------------------------------------------------------
BlackRock Investment Management (UK) Limited                    522,885    0.10%
--------------------------------------------------------------------------------
BlackRock Investment Management, LLC                            493,715    0.09%
--------------------------------------------------------------------------------
BlackRock Japan Co., Ltd.                                       703,657    0.13%
--------------------------------------------------------------------------------
BlackRock Life Limited                                        1,633,089    0.31%
--------------------------------------------------------------------------------
BlackRock Asset Management Schweiz AG                             2,545    0.00%
--------------------------------------------------------------------------------
iShares (DE) I Investmentaktiengesellschaft mit                 373,563    0.07%
 Teilvermögen                                                                   
--------------------------------------------------------------------------------
Grand Total                                                  26,249,166    4.92%
--------------------------------------------------------------------------------



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

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

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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 20,000 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