SOURCE: Stora Enso Oyj

July 28, 2006 08:39 ET

Stora Enso responds to speculation about the future of its sawmilling business

HELSINKI, FINLAND -- (MARKET WIRE) -- July 28, 2006 -- Stora Enso Oyj News Release July 28, 2006 at 12:30 GMT


HELSINKI, Finland - Stora Enso (NYSE: SEO) today announced that an article was published today in the Swedish commercial daily newspaper Dagens Industri about the future of Stora Enso Timber. It included too far-reaching assumptions by the newspaper that Stora Enso would sell its Wood Products (sawmilling) division.

A review of Stora Enso's strategy was initiated in spring 2005. As a result, the Group launched two programmes, Profit 2007 and Asset Performance Review (APR). In October 2005 Stora Enso issued a release that stated: "Further analysis of the alignment of the Group's strategy with its product and production asset portfolio is underway." The Group is reviewing the role of the Wood Products division in its organisation. No decisions have been taken, nor is there any timetable concerning this issue.

For further information, please contact:
Tim Laatsch
Senior Vice President, Communications
Stora Enso North America,
tel. 715 422 4023

Previous press releases concerning Stora Enso's profit improvement programme available at www.storaenso.com/press:

- 26 July 2006: Stora Enso's Profit 2007 programme ahead of schedule

- 21 July 2006: Stora Enso sells its Pankakoski Mill to a group of private investors

- 8 June 2006: Stora Enso sells its Celbi Pulp Mill to Altri

- 31 March 2006: Stora Enso finalises the divestment of Grycksbo Mill

- 22 March 2006: Stora Enso Timber restarts Veitsiluoto Sawmill at lower production volume

- 2 March 2006: Stora Enso to sell its Grycksbo and Linghed mills

- 21 December 2005: Stora Enso's profitability improvement programmes ahead of schedule

- 27 October 2005: Stora Enso creates platform for stronger financial performance

- 23 August 2005: Stora Enso is exploring the possibility of selling its Grycksbo Mill

- 20 June 2005: Stora Enso Timber completes negotiations with its personnel at Veitsiluoto Sawmill

- 3 May 2005: Stora Enso Timber to start negotiations with its personnel at Veitsiluoto Sawmill

www.storaenso.com

www.storaenso.com/investors


Copyright © Hugin ASA 2006. All rights reserved.

Contact Information