Total of 2150 UPM shares subscribed for by Dec. 5 under stock option rights 2007B; trading in new shares begins Dec. 23

Bdebbie Garcia

Helsinki, Finland , December 22, 2011 (press release) – A total of 2150 UPM-Kymmene Corporation new shares were subscribed for by 5 December 2011 under the company's stock option rights 2007B. The entire subscription price of EUR 13,416 will be entered in the invested unrestricted equity reserve. As a result of the share subscriptions, the number of UPM's shares will increase to 524,972,838.

The shares subscribed for under the stock options were registered in the Trade Register on 22 December 2011, as of which date the new shares will establish shareholder rights.

Trading in the new shares will begin on NASDAQ OMX Helsinki on 23 December 2011.

The share subscription period for stock options 2007B is between 1 October 2011 and 31 October 2013. On 22 December 2011, a total of 4,383,050 stock option rights 2007B remained unexercised.

The terms and conditions of UPM's stock options 2007 with additional information are available on the company's website www.upm.com.

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