UPM's share capital increase based on subscriptions for share options

(UPM, Helsinki, March, 21, 2007 at 9.40) - A total of 1,300 UPM Kymmene Corporation share options 2002E were used for the subscription of 2,600 shares from December 9, 2006 to February 28, 2007. The shares have been registered in the Finnish Trade Register on March 21, 2007.

As a result of the subscriptions, UPM's share capital was increased by 2,600 new shares, i.e., by EUR 4,420. After the registration, the total number of UPM shares is 523,262,030 and the share capital of the company is now EUR 889,545,451.00.

Dividend rights and other shareholder rights shall begin when the increase of the share capital has been registered on the Trade Register of Finland. An application has been submitted for listing the new shares together with the old shares at the stock exchange list of the Helsinki Exchanges as of March 22, 2007.