UPM issues 5,000,000 stock options 2007B at €6.24/share; employees holding total 4,385,500 shares

HELSINKI , September 21, 2011 (press release) – UPM-Kymmene Corporation applies for listing of stock option rights 2007B of the UPM Stock Options 2007 programme on NASDAQ OMX Helsinki stock exchange to commence on 3 October 2011.

A total of 5,000,000 stock options 2007B were issued. There are currently 515 key employees holding a total of 4,385,500 stock options 2007B. Unicarta Oy, a wholly-owned subsidiary of UPM, currently holds 614,500 stock options 2007A, which will not be used for share subscription.

Each stock option 2007B entitles its holder to subscribe for one UPM share at a subscription price of EUR 6.24. The share subscription period is from 1 October 2011 to 31 October 2013.

Shares will establish shareholders rights as of the date of share registration.

As a result of the exercise of the outstanding stock options 2007B, the number of UPM’s shares may increase by a maximum of 4,385,500 new shares.

Evli Bank Plc acts as a subscription place for share subscriptions with UPM 2007 stock options.

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