UPM will book a capital gain of EUR 58 million in the last quarter of 2007

(UPM, Helsinki, January 14, 2008 at 9.45) – UPM's results for the last quarter of the year 2007 include a non-taxable capital gain of EUR 58 million from the sale of the port operators Oy Rauma Stevedoring Ltd and Botnia Shipping Ltd, announced by UPM in October.

In addition, UPM will book as special items net charges of approximately EUR 108 million in the last quarter of 2007. This amount includes the previously announced charges related to the closure of the Miramichi paper mill and the class-action lawsuits raised in the United States.

In the last quarter of 2007, the operating profit includes charges net of approximately EUR 50 million recorded as special items.

Furthermore in the last quarter of 2007, UPM will book in taxes as special items charges of approximately EUR 38 million from the decrease of deferred tax assets in Canada, primarily due to the decrease of the tax rate.

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