UPM-Kymmene Corporation begins operations on schedule

The merger of Repola Ltd and Kymmene Corporation has taken place as scheduled.
The new company, UPM-Kymmene Corporation, was entered in the Finnish Trade Register on 30 April 1996. UPM-Kymmene shares issued to shareholders as merger consideration have been entered in the relevant book entry accounts. In accordance with the terms of the Merger Agreement, merger consideration to be paid to UPM-Kymmene shareholders in cash will be credited on 7 May 1996.
Trading in UPM-Kymmene Corporation shares began on the Helsinki Stock Exchange, on 2 May 1996.
United Paper Mills Ltd has merged with UPM-Kymmene Corporation. The merger will be entered in the Finnish Trade Register on 2 May 1996.