UPM awaits M-real's contact

(UPM, Helsinki, November 15, 2006) – UPM is satisfied that M-real's Board of Directors will appropriately evaluate UPM's offer. The company awaits M-real's contact and will provide the required further clarifications. UPM believes that the issues presented can be clarified and that it is possible to achieve a solution which is satisfactory to all of Botnia's shareholders.