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UPM expects profitability for 08 to be below last year

Press release from the issuing company

(UPM, Helsinki, 18 June 2008 at 09:35) – UPM's operative profitability for 2008 is expected to be weaker than that of last year due to higher than estimated costs of wood fibre sourcing and the weakening result for the sawn timber business. At the beginning of the year, UPM expected its full year operative profitability for 2008 to be about the same as in 2007.

The company's ongoing price increases for magazine papers are estimated to materialise as anticipated.

UPM will release its financial result for April-June on 24 July 2008.

For further information, please contact:
Mr Olavi Kauppila, Senior Vice President, Investor Relations, tel. +358 204 15 0658
Mr Jyrki Salo, Executive Vice President and CFO, tel. +358 204 15 0011