The President of Raflatac Group will change

Mr Pentti Kallio will leave his position as President of Raflatac Group, subsidiary of UPM, at the beginning of September 2004. In addition to his current duties, Mr Pauli Hänninen, UPM's Executive Vice President, Business Development, will resume operative responsibility for Raflatac as of 1 September 2004 until the new President has been appointed.

This change has no effect on Raflatac's strategy. The company's objective is continuous growth. The operations in the United States and in South East Asia are in special focus. The label market continues to grow rapidly and Raflatac wants to further strengthen its market position.


UPM
Corporate Communications
August 26, 2004