SOURCE: Stora Enso Oyj

July 17, 2007 02:38 ET

Stora Enso starts pre-feasibility study for a world-class pulp and paper mill in Russia

HELSINKI, FINLAND--(Marketwire - July 17, 2007) - Stora Enso Oyj News Release July 17, 2007 at 06.30 GMT

HELSINKI, Finland - Stora Enso (NYSE: SEO) today announced that Stora Enso has decided to start a pre-feasibility study for a pulp and paper mill complex in Nizhny Novgorod, Russia which will be undertaken in close co-operation with the Russian government. The objective is to manufacture paper for Russian consumers from Russian wood - in Russia.

"Russia is a key growth market for Stora Enso. We have already invested over EUR 300 million in establishing sawmills, corrugated packaging board mills and forest assets in the country. Now we are actively looking into taking the next step, encouraged by good experience with our existing operations in Russia and our unique expertise in all areas from forest management and wood harvesting to chemical pulping and paper manufacturing - many of these capabilities already existing in Russia. We will work closely with the federal ministerial levels and Nizhny Novgorod regional government to establish right investment conditions as regards infrastructure for logistics, forest rights and taxation in relation to the project," says CEO Jouko Karvinen.

If the results of pre-feasibility and 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
SVP, Communications, Stora Enso North America
tel. 715 422 4023

Jouko Karvinen,
CEO
tel. +44 20 7016 3120

Hannu Ryöppönen
Deputy CEO
tel. +44 207 016 3114

Markku Pentikäinen
EVP, Corporate Technology, Asia Pacific and Russia
tel. +358 400 498531

Kari Vainio
EVP, Corporate Communications
tel. +44 7799 348 197

Keith B. Russell
SVP, Investor Relations
tel. +44 7775 788 659
Previous press releases concerning Stora Enso's recent major projects in Russia are available at www.storaenso.com/press

- 7 March 2007: Stora Enso expands its corrugated packaging business in Eastern Europe and Russia

- 24 May 2006: Stora Enso expands its corrugated packaging business in Russia

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