Helsinki, Finland, 31 May 2007 -- Stora Enso has signed a new EUR 1.4 billion syndicated credit facility agreement with a group of 15 banks. The facility, which has a maturity of five years, is for general corporate purposes including the refinancing of existing EUR 1.75 billion syndicated facility. The new loan facility has a margin of 0.225% p.a. over Euribor.

Mandated Lead Arrangers for the transaction are ABN AMRO Bank N.v., Stockholm Branch, CALYON, Deutsche Bank AG, London Branch and Handelsbanken.

Arrangers: Barclays Capital, BNP PARIBAS, Citigroup, HSBC Bank plc, JP Morgan Chase Bank, N.A., Merrill Lynch International Bank Limited, Morgan Stanley, Nordea, SEB, UBS Investment Bank, and William Street Credit Corporation.

The rationale for refinancing was to review and decrease the size of the bank group, to save costs by taking advantage of prevailing market conditions and to prolong the maturity.