16.12.04

16.12.2004: Meldung:Stora Enso"s Intercell deal completed

Stora Enso Oyj Stock Exchange Release 15 December 2004 at

Stora Enso has closed its previously announced acquisition of 66% ownership of the Polish packaging producer Intercell S.A. from private shareholders and the International Finance Corporation. The transaction was concluded following approval by regulatory authorities. The acquisition is part of Stora Enso"s strategy of expanding its Packaging Boards operations, and will strengthen its presence in the fast-growing Polish market.

Mr. Jerzy Janowicz will remain Managing Director of Intercell. Mr. Pentti Huhta, Senior Vice President, Stora Enso Industrial Papers, will co-ordinate integration of Intercell into Stora Enso.

Intercell is one of Poland"s biggest corrugated packaging companies, with integrated operations from waste paper collection to corrugated packaging production. The Company has three corrugated packaging plants in Poland, as well as one sack factory in Poland and one in Serbia. Intercell"s paper and board mill at Ostroleka, Poland has an annual production capacity of about 250 000 tonnes of containerboard and sack and kraft paper. Its annual corrugated packaging capacity is about 250 million m2. In 2003 Intercell"s sales were EUR 150 million, 60% of which was from packaging and 40% from containerboards and paper, and its EBITDA in 2003 was EUR 27 million. The Company employs about 1 900 people. Intercell also operates Poland"s largest recycledpaper collection business, which has an approximately 15% share of the market in Poland.


For further information, please contact:
Pekka Laaksonen, Senior Executive Vice President, Stora Enso
Packaging Boards,
tel. +358 2046 21218
Pentti Huhta, Senior Vice President, Stora Enso Industrial Papers,
tel. +358 2046 25203
Kari Vainio, Executive Vice President, Corporate Communications, tel.
+44 7799 348 197
Keith B Russell, Senior Vice President, Investor Relations, tel.
+44 20 7016 3146

www.storaenso.com
www.storaenso.com/investors
www.intercell.pl

Previous press release concerning Stora Enso"s Intercell deal available at www.storaenso.com/press
- 29 October 2004: Stora Enso to acquire majority interest in Intercell of Poland

Stora Enso is an integrated paper, packaging and forest products company producing publication and fine papers, packaging boards and wood products, areas in which the Group is a global market leader. Stora Enso sales totalled EUR 12.2 billion in 2003. The Group has some 44 000 employees in more than 40 countries in five continents and an annual production capacity of 15.7 million tonnes of paper and board and 7.4 million cubic metres of sawn wood products, including 2.8 million cubic metres of value-added products. Stora Enso"s shares are listed in Helsinki, Stockholm and New York.
Stora Enso Oyj
Business ID 1039050-8


Kanavaranta 1
00160 Helsinki, Finland
P.O. Box 309
FIN-00101 Helsinki, Finland
Tel.: +358 2046 131
Fax: +358 2046 21471
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