Standard & Poor's has today upgraded M-real Corporation's CCC+ rating to B-. The outlook of the rating is stable.                                                
	                                                                                
	Upgrade has a positive impact of approximately EUR 1 million on M-real's current annual financing costs.                                                         
	                                                                                
	M-REAL CORPORATION                                                              
	                                                                                
	Further information:                                                            
	Matti Mörsky, CFO, tel. +358 10 465 4321                                        
	Juha Laine, Vice President, IR and Communications, tel. +358 10 465 4335
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