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Thursday, 04 February 2010 10:40

Stora Enso's and Arauco's joint-venture

storaensoStora Enso's and Arauco's joint-venture company in Uruguay, Montes del Plata, has decided to initiate a feasibility study on Punta Pereira as the site for a possible future pulp mill. Punta Pereira was also the site chosen for Spanish pulp maker ENCE's planned pulp mill. Stora Enso and Arauco acquired the majority of ENCE's operations in Uruguay in October 2009.                                

Studies prepared by Montes del Plata show that Punta Pereira, in the Department of Colonia, is a promising location for the possible pulp mill and therefore more detailed economic, technical, environmental and social studies are justified. Punta Pereira also offers flexibility in terms of planning of a long-term investment.                                                           

“We have come out with a decision which is based on our preliminary economic, operational and environmental findings. The identification of Punta Pereira will allow us to proceed to the next phase - a detailed feasibility study,” says Stora Enso CEO Jouko Karvinen.                                                  

The final decision on construction of the new pulp mill will be taken by the Boards of Directors of Stora Enso, Arauco and Montes del Plata once the feasibility study is completed.                                                 

For further information, please contact:                                        
Jouko Karvinen, CEO, tel. +358 2046 21410                                       
Nils Grafström, President, Stora Enso Latin America, tel. +55 1181 759 283      
Lauri Peltola, Head of Group Communications, tel. +358 2046 21380               

www.storaenso.com

www.storaenso.com/investors

Stora Enso is the world leader in forest industry sustainability. We offer our customers solutions based on renewable raw materials. Our products provide a climate-friendly alternative to many non-renewable materials, and have a smaller carbon footprint. Stora Enso is listed in the Dow Jones Sustainability Index and the FTSE4Good Index. Stora Enso employs 29 000 people worldwide, and our sales in 2008 amounted to EUR 11.0 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.                                                       
STORA ENSO OYJ

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