Eastern European Markets
December 21st, 2007

Stora Enso signs letter of intent concerning
possible pulp and paper mill in Russia

Stora Enso and the Nizhny Novgorod regional administration in Russia have signed a letter of intent setting out the basic principles for further pre-investment work for a proposed paper and pulp mill in the region. The non-binding agreement is the logical continuation of the pre-feasibility study announced on 17 July 2007 and confirms the commitment of the Nizhny Novgorod administration and Stora Enso to continuing with preparations for the potential mill development. The objective of the project remains unchanged: to manufacture paper for Russian consumers from Russian wood - in Russia.

If the results of pre-feasibility and any subsequent complete feasibility studies are favourable, the Stora Enso Board of Directors will then consider any proposed investment decision.

Further information
Hannu Ryöppönen, Deputy CEO and CFO, tel. +358 2046 21409
Kari Vainio, EVP, Corporate Communications, tel. +44 7799 348 197
Ulla Paajanen-Sainio, VP, Investor Relations and Financial Communications, tel. +358 40 763 8767

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