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Directed share issue part of UPM’s acquisition of Myllykoski

Dec 23 2010  UPM has decided on the issuance of five million new UPM shares as a part of the consideration for the acquisition of Myllykoski.

The new UPM shares will be offered for subscription to certain holders of subordinated loan notes of Rhein Papier GmbH, who are shareholders of Myllykoski Corporation, and who have agreed to subscribe for the new shares in connection with the completion of the acquisition of Myllykoski. The subscription price for the new UPM shares will be paid by contribution of such loan notes to UPM as part of the overall transaction.The number of new UPM shares to be issued may be subject to an adjustment by UPM’s Board of Directors, if certain dilutive corporate events take place before the subscription for the new shares.

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