31.3.2005: Meldung: Stora Enso share capital and North American stock options

Reduction in Stora Enso share capital

Stora Enso share capital has been reduced through the cancellation of Stora Enso shares held by the Company, as decided by the AGM on 22 March 2005. The share capital was reduced by EUR 41 252 710 through the cancellation of 16 300 Series A shares and 24 250 000 Series R shares. The new share capital is EUR 1 382 061 068.30. The reduction in share capital was registered in the Finnish Trade Register on 31 March 2005.

Breakdown of shares after cancellation:

A shares:179 030 345
R shares:633 946 754
Total:812 977 099

Stora Enso North America Option Programme

Following the acquisition of Consolidated Papers, Inc. the Board of Directors decided to convert the Consolidated Papers" share option plans into Stora Enso share option plans. During February and March 2005 a total of 7 159 R shares were subscribed against North American stock options. These R shares were previously held by the Company.

After the subscription the Company holds:

A shares:-
R shares:1 420 624

For further information, please contact:

Ulla Paajanen-Sainio, Vice President, Investor Relations and Financial Communications,
tel. +358 2046 21242

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 12.4 billion in 2004. The Group has some 45 000 employees in more than 40 countries in five continents and an annual production capacity of 16.2 million tonnes of paper and board and 7.7 million cubic metres of sawn wood products, including 3.2 million cubic metres of value-added products. Stora Enso"s shares are listed in Helsinki, Stockholm and New York.
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