UPM-Kymmene Pre-Tax Gain in 1999

The UPM-Kymmene pre-tax gain on selling the shares and other assets in 1999 totals approximately EUR 600 million, of which the pre-tax gain in the 1999 last quarter amounts to some EUR 390 million.
The biggest pre-tax gain comes from selling the shares. The pre-tax gain to be generated from selling Nokia shares is EUR 377 million and Pohjolan Voima C series shares EUR 150 million. Other significant pre-tax gain comprises the sale of Stora Enso shares and non-woven business Walkisoft. After the sale UPM-Kymmene owns a total of 8,574,736 Nokia shares.
In 1998, the UPM-Kymmene pre-tax gain amounted to EUR 553 million.