Helsinki, Finland, 19 November 2007 -– UPM's associated company Botnia's pulp mill in Uruguay has started up successfully. The first batches of pulp will be shipped for test runs to UPM's mills in China and Finland in the coming weeks. Originally the mill was scheduled to start up in the third quarter of 2007. The delay in start-up will not materially affect UPM's financial results for 2007.

The annual capacity of the Fray Bentos pulp mill is 1 million tons of eucalyptus pulp, of which UPM's share is some 510,000 tons.

The pulp mill is one of the most modern in the world. Designed with the most recent technologies available, the mill operates in compliance with the strictest standards set by the European Union and Uruguayan legislation.

The total investment in the mill comes to USD 1.2 billion.

Botnia S.A. is a subsidiary of Oy Metsä-Botnia Ab. UPM owns 47% of Oy Metsä-Botnia Ab.