The ownership arrangement concerning Oy Metsä-Botnia Ab announced by Metsäliitto Group at the end of October was concluded today on 8 December in accordance with the earlier announcement. Following the conclusion of the arrangement, Metsäliitto Cooperative became the majority shareholder of Metsä-Botnia. Metsä-Botnia's Uruguay functions included in the agreement comprise the majority holdings of the Fray Bentos pulp mill and Forestal Oriental, a company specialising in eucalyptus cultivation. Metsä-Botnia and Metsäliitto Cooperative sold their holdings in these operations to UPM. The share sold by Metsä-Botnia is 82.1%, while that of Metsäliitto is 5.5%. The total debt-free enterprise value of the Uruguay operations was agreed at about EUR 1.6 billion. In connection with the arrangement, Metsäliitto Cooperative also purchases 24.7% of Metsä-Botnia's shares from UPM and 3.0% from M-real. Now that the arrangement has been concluded, Metsäliitto Cooperative owns about 53% of Metsä-Botnia, M-real about 30% and UPM about 17%. As part of the arrangement, Metsä-Botnia sold 77% of its shares in Pohjolan Voima Oy to UPM. The arrangement's net cash impact for Metsäliitto Cooperative is approximately EUR 110 million negative. The total debt-free enterprise value of Metsä-Botnia without its Uruguay operations and Pohjolan Voima Oy shares was agreed at approximately EUR 1.9 billion. For further information: Esa Kaikkonen, General Counsel, Metsäliitto Group, tel. +358 10 465 4749 Anne-Mari Achrén, Group CCO, Metsäliitto Group, tel. +358 10 465 4541