Rectification to Bloomberg and Kauppalehti Online's articles on the coated paper price decrease in Europe

Unlike reported in the Bloomberg news story and electronic edition of Finnish business daily Kauppalehti on June 6, 2003, UPM-Kymmene has not stated that it forecasts the decrease of coated paper prices in Europe to continue. Kari Toikka, Executive Vice President and CFO, did not give any forward looking statement on the coated paper prices in the Nordea seminar in Helsinki yesterday.

In addition Kauppalehti news story indicates that "according to forest companies the sales in Europe has stagnated". As stated in UPM-Kymmene's interim review, for seasonal reasons the sales is somewhat livelier than during the first quarter of 2003.

 

UPM-Kymmene
Corporate Communications
June 6, 2003