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Stora Enso to dissolve Pulp Division

Press release from the issuing company

3/20/01 - Stora Enso will dissolve its Pulp Division and transfer the pulp mills to other divisions. The non-integrated pulp mills will be reallocated as follows: - Celbi and Skutskär mills will be included in the Fine Paper Division - Norrsundet and Kemijärvi mills, and the 50% interest in the Sunila mill will be included in the Magazine Paper Division - Enocell mill will be included in the Packaging Boards Division. The restructuring of the Pulp Division will not affect the operation of the pulp mills. The pulp balance will remain intact. Pulp sales, which will report to the Fine Paper Division, will continue its activities as before. A pulp Competence Centre will be established in the Packaging Boards Division. The Competence Centre will work closely with all Stora Enso pulp mills. Implementation of the reorganization will be started immediately and completed by 1 September 2001. Stora Enso will report its financial results by product area according to the new organization effective from the beginning of 2001. Recalculated historical figures (1999 and 2000) will be published on 10 April 2001 with a separate stock exchange release for investors and analysts that follow Stora Enso. Negotiations with trade unions have started.