UPM's non-recurring items in 2005

In 2005, UPM's non-recurring costs are approximately EUR 94 million net. In the last quarter of 2005, non-recurring charges of approximately EUR 261 million will be booked in operating profit.

In UPM's paper divisions, an impairment charge of approximately EUR 155 million related to the production facilities at Miramichi magazine paper mill in Canada as well as a one-time write-off of EUR 8 million related to the rebuild of the paper machine at Nordland fine paper mill in Germany will be booked in the last quarter. In Wood Products Division, an impairment charge of EUR 25 million related to the fixed assets of sawmills in Finland and a provision of EUR 16 million related mainly to operations in France will be booked. A fine of EUR 57 million concerning antitrust activities in Rosenlew's plastic industrial sack business, announced earlier, will be booked as non-recurring item.

Of all UPM's non-recurring items of 2005, charges of EUR 253 million net will be booked in operating profit, income of EUR 101 million after operating profit and income of EUR 58 million in taxes.


For further information please contact:
Mr Olavi Kauppila, Senior Vice President, Investor Relations, tel. +358 204 15 0658


UPM
Corporate Communications
December 28, 2005