Judgment on tax case

On June 7 2012, the Stockholm Administrative Court of Appeal announced its
judgment on the tax case involving Holmen’s subsidiary Modo Capital AB. The
Administrative Court of Appeal judgment means that the judgment of the County
Administrative Court is upheld and that Modo Capital is disallowed depreciation
deduction for the 1997 tax year. The tax cost has previously been paid and
carried as an expense and therefore does not have any impact on the Group's
earnings or cash flow. Holmen will analyse the judgment in order to make a
decision on a possible appeal.

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For further information please contact:
Anders Jernhall, CFO, Holmen, tel. +46 8 666 21 22
Ingela Carlsson, Public Relations Director, Holmen, tel. +46 702 12 97 12

In its capacity as issuer, Holmen AB is releasing the information in this press
release in accordance with Chapter 17 of the Swedish Securities Market Act
(2007:528). The information was distributed to the media for publication at
16.30 CET on Thursday 7 June 2012.