UPM concludes sale of its assets in Miramichi, Canada


UPM-Kymmene Corporation    Investor News	15 January 2009 at 20:00               

UPM has sold its former paper mill and related assets in Miramichi, New         
Brunswick, Canada, to Umoe Solar AS of Norway. The sale includes the paper mill,
a groundwood pulp mill, woodlands operations, and two sawmills located nearby in
Bathurst and Blackville. The parties have agreed not to disclose the sale price.
UPM records an income of approximately EUR 20 million on the sale as a special  
item in the first quarter of 2009.                                              

The Miramichi paper mill, with an annual production capacity of 450,000 tonnes  
of light-weight coated magazine paper, was permanently closed in December, 2007.
The disabled paper machines can no longer be used for paper production.         

For further information, please contact:                                        
Mr Timo Suutarla, General Manager, UPM, Miramichi, tel. +1 506 6273714          
Mr Olavi Kauppila, Senior Vice President, Investor Relations, tel. +358 204 15  
0658                                                                            

UPM-Kymmene Corporation                                                         
Pirkko Harrela                                                                  
Executive Vice President, Corporate Communications

UPM, Corporate Communications
Media Desk, tel. +358 40 588 3284
communications@upm-kymmene.com
                           
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