Franklin Resources Inc. funds' holding of UPM-Kymmene share capital 4.97 per cent on 31 January, 2002

According to the Finnish Securities Market Act, Chapter 2, Section 9, UPM-Kymmene reports the following.

On 31 January, 2002, the holdings by the mutual funds of Franklin Resources Group of the paid up share capital of UPM-Kymmene was as follows:

Templeton Global Advisers Ltd 10 374 546 shares
Templeton Investment Counsel LLC 1 709 542
Franklin Templeton Investments Corp. 840 071

Total 12 924 159 shares

This holding amounts to 4.97 per cent of UPM-Kymmene's paid up share capital and the total votes. In addition, the Franklin Resources Group has an authorization to use voting rights with
a share of 0.85 per cent as follows:

Franklin Private Client Group 1 200
Templeton Global Advisers Ltd 24 300
Templeton Investment Counsel LLC 1 507 411
Franklin Templeton Investment Mgmt. Ltd 11 000
Franklin Templeton Investment Corp. 2 202 299

Total 2 202 299

The total amount of voting rights managed by the Franklin Resources Group represented
5.82 per cent of the voting rights in UPM-Kymmene on 31 January, 2002.


UPM-Kymmene Corporation
Corporate Communications
7 February, 2002