UPM to develop its Wood Products DivisionNew organisation and Management Group for the Division

UPM will launch an extensive internal development process in order to increase its Wood Products Division's profitability and intensify customer oriented operations in the division.

As part of the development process, the Division's organisation will be streamlined. Its plywood and sawmilling businesses, which so far have been operated as separate business areas, will be operated as one wood products business area based on customer segmentation. The new organisation will take effect immediately. At the same time the following persons have been appointed members of the Management Group:

Mr Kari Kerttula, MBA, has been appointed Senior Vice President, Marketing & Sales.

Mr Antro Säilä, M.Sc. (Forestry), has been appointed Vice President, R&D.

Mr Pekka Rautiainen, M.Sc. (Forestry) has been appointed Vice President, Wood Raw Materials. He will coordinate customer oriented wood procurement between UPM:s Forest Department and the Division's mills.

Mr Tuomo Visanko, Engineer of Wood Technology, eMBA, has been appointed Senior Vice President, Operations.

Mr Harri Mannonen, M.Sc. (Econ.) has been appointed Vice President, Finance and IT.

Ms Miia Närekorpi, BBA, has been appointed Vice President, Communications.

Ms Laura Lares, Dr. Tech., has been appointed Vice President, Business Development & HR.

Mr Tapani Savisalo, M.Sc. (Eng.) has been appointed Vice President, Building Materials Merchants.

All appointments are effective immediately except Laura Lares', who will join the company in April. All the above persons will report to Mr Harald Finne, President of Wood Products Division. The Division's head office will be located in Lahti, Finland.

Further information:
Harald Finne, President, UPM, Wood Products Division, tel. +358 40 519 1951.

UPM, Wood Products Division
Communications
23 February 2004