Stora Enso Oyj and its wholly-owned
subsidiaries Stora Enso Fine Papers Oy, Lumi-Hamina Oy, Enso Paperikemia Oy and
Tornion Pakkauslava Oy signed agreements to merge under which the subsidiaries
will be absorbed into the parent company Stora Enso Oyj and all their assets
and liabilities will be transferred to Stora Enso Oyj without liquidation
proceedings. As this will be an absorption of subsidiaries, no payment will be
made for their acquisition.
The reasons for the merger in the case of
Stora Enso Fine Papers Oy are to enhance the cost efficiency of the Group's
operations, to utilize resources more effectively and to simplify
administration. The other subsidiaries are being absorbed to simplify
administration because they are no longer operating companies. The Articles of
Association of Stora Enso Oyj will not be amended. It is planned that the
registration date on which the merger will become effective will be 30 June
2001.

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