UPM's sale of Puukeskus concluded

(UPM, Helsinki, August 31, 2006) – UPM's sale of Puukeskus Oy to the private equity investor Triton and Puukeskus’s management was completed today and the business has been transferred to the new owner. The deal was published on June 22, 2006.

UPM will book from the sale a capital gain of around EUR 90 million for the third quarter of 2006. The final figure will be determined from the financial statements to be prepared as per August 31, 2006.

Puukeskus is the leading building materials merchant chain for wood-based products in Finland. It has 650 employees and in 2005 had sales of EUR 394 million.

For further information please contact:
Mr Harald Finne, President, Wood Products Division, tel. +358 40 519 1951
Mr Olavi Kauppila, Senior Vice President, Investor Relations, tel. +358 204 15 0658