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UPM-Kymmene: Q1 Financials Half Of 2002

Press release from the issuing company

April 4, 2003 -- Finnish paper industry company UPM-Kymmene Corporation said today that it expected its financial result for the first quarter of 2003 to be half of last year's corresponding period. The decline was due to a significant fall in printing paper prices and to the weakening of the US dollar, according to the company. UPM-Kymmene said that the market outlook remained uncertain due to the war in Iraq. No financial information was provided.