M-real Corporation Stock Exchange Bulletin 21.3.2007 Standard & Poor's has today downgraded M-real Corporation's B+ rating to B. The outlook of the rating remains negative. Downgrade has an annual impact of approximately EUR 2.3 million on M-real's current financing costs. Further information Seppo Parvi, CFO, tel. +358 10 469 4321 M-REAL CORPORATION