UPM-Kymmene Annual Report on Form 20-F for 2003

UPM's Annual Report on Form 20-F for 2003 has been filed with the Securities and Exchange Commission on June 21, 2004. The 20-F is available as a PDF document on UPM's Internet site at www.upm-kymmene.com.

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

UPM
Corporate Communications
June 21, 2004