M-real Corporation Stock Exchange Release 22.10.2007 Standard & Poor's has today downgraded M-real Corporation's B rating to B-. The outlook of the rating was changed from negative to stable. Downgrade has an annual impact of approximately EUR 2 million on M-real's current financing costs. M-REAL CORPORATION Further information: Seppo Parvi, CFO, tel +358 10 469 4321