M-real Corporation Stock Exchange Release 17 December 2008 In connection with the third quarter 2008 result announcement, M-real expected the fourth quarter operating result, excluding non-recurring items, to weaken seasonally. The demand for M-real's main products in Europe was expected to remain relatively stable for the rest of the year. M-real has earlier stated that the operating result for the full year 2008, excluding non-recurring items, is expected to be weaker than in 2007. In the fourth quarter, the demand for M-real's main products has declined clearly more than the normally expected seasonality due to the weakening world economy. This has resulted in market-related curtailments at M-real's mills. The decline in market pulp prices has also weakened M-real's profitability more than expected. The operating result, excluding non-recurring items, of the fourth quarter will be clearly weaker than in the third quarter. Thus, the full year 2008 operating result, excluding no-recurring items, will also be clearly weaker than in 2007. M-REAL CORPORATION Further information: Seppo Parvi, CFO, tel. +358 10 465 4321 Juha Laine, VP, IR and Communications, tel. +358 10 465 4335
M-real's fourth quarter and full year 2008 operating result excluding non-recurring items clearly weaker than previously expected
| Source: Metsä Board Oyj