Published: 2008-05-27 12:00:46 CEST
Metsä Board Corporation - Company Announcement
M-real's asset divestment programme proceeds

M-real Corporation Stock Exchange Release 27.5.2008

M-real Corporation and Kymppivoima Oy have today signed a sales
contract according to which M-real sells Kymppivoima 100 000 B2
shares in Pohjolan Voima (PVO). The shares entitle to electricity
from the new Olkiluoto nuclear power plant that is currently being
built. The shares represent approximately 6.7 per cent of the total
amount of B2 shares and voting rights. The sales price of the shares
is EUR 80 million and the transaction is planned to be put into
effect by 25 June 2008. M-real will book a non-recurring gain of
about EUR 74 million from the transaction.

After the transaction M-real will own about 3 per cent of the total
amount of PVO B2 shares and voting rights. In addition, M-real owns
about 11 per cent of PVO B shares that entitle to electricity from
the two current Olkiluoto nuclear power plants. M-real's
self-sufficiency in electricity is about 60 per cent composed of own
generation and ownerships in power plants. Today's transaction does
not have impact on M-real's self-sufficiency in electricity.

This sale is a part of M-real's minimum EUR 200 million asset
divestment programme launched in February 2008. M-real has so far
divested assets worth EUR 162 million under its asset divestment
programme. Asset items divested are the PVO shares and the New Thames
mill. The asset divestment programme is planned to be completed by
the end of the first quarter of 2009.

M-REAL CORPORATION

Further information:
CFO Seppo Parvi, tel. +358 10 465 4321
VP, IR and Communications Juha Laine, tel. +358 10 465 4335