SOURCE: Stora Enso Oyj

December 20, 2007 05:44 ET

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

Stora Enso Oyj News Release December 20, 2007 at 10.30 GMT

HELSINKI, FINLAND--(Marketwire - December 20, 2007) - Stora Enso Oyj News Release December 20, 2007 at 10.30 GMT


HELSINKI, Finland - Stora Enso (NYSE: SEO) today announced that 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.


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

www.storaenso.com
www.storaenso.com/investors




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