SUBSCRIPTION OF UPM SHARES BASED ON STOCK OPTIONS 2002D


The share subscription period for UPM-Kymmene Corporation stock options 2002D   
ended on April 30, 2007. At the end of the share subscription period, the share 
subscription price for the stock option 2002D was EUR 18.20 per share. During   
the entire share subscription period, a total of 2,853,645 stock options 2002D  
were used for the subscription of shares. In total 5,707,292 shares were        
subscribed, which represents 1.10% of the current total number of UPM shares    
(523,262,030).                                                                  
An application for listing the increase in the number of shares based on the    
subscriptions with stock options 2002D in the Finnish Trade Register will be    
submitted by the end of May 2007.                                               


UPM-Kymmene Corporation                                                         

Pirkko Harrela                                                                  
Executive Vice President, Corporate Communications                              

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