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Stora Enso Signs Letter of Intent Concerning Possible Pulp and Paper Mill in Russia
Helsinki, Finland, 20 December 2007 -- Stora Enso and the Nizhny Novgorod regional administration in Russia have signed a letter of intent setting out the basic principles for further pre-investment work for a proposed paper and pulp mill in the region.

The nonbinding agreement is the logical continuation of the prefeasibility study announced on 17 July 2007. It confirms the commitment of the Nizhny Novgorod administration and Stora Enso to continuing with preparations for the potential mill development. The objective of the project remains unchanged: to manufacture paper for Russian consumers from Russian wood, in Russia.

If the results of prefeasibility and any subsequent complete feasibility studies are favorable, the Stora Enso board of directors will then consider any proposed investment decision.

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