Stora Enso shares converted and North American stock optionsexercised

Stora Enso Oyj Stock Exchange Release 16 July 2007 at 08.00 GMT During the 1-30 June 2007 conversion period there was one conversion and a total of 284 857 A shares were converted into R shares. The shares were recorded in the Finnish trade register today, 16 July 2007, and trading in the new R shares will start on 17 July 2007. Breakdown of shares after conversion: +------------------------+ | A shares | 177 817 810 | |----------+-------------| | R shares | 611 720 689 | |----------+-------------| | Total | 789 538 499 | +------------------------+ Stora Enso North America Option Programme Following the acquisition of Consolidated Papers, Inc. the Board of Directors decided to convert the Consolidated Papers' share option plans into Stora Enso share option plans. During June 2007 a total of 1 410 R shares were subscribed against North American stock options. These R shares were previously held by the Company. After the subscription the Company holds: +--------------------+ | A shares | - | |----------+---------| | R shares | 938 522 | +--------------------+ For further information, please contact: Ulla Paajanen-Sainio, Vice President, Investor Relations and Financial Communications, tel. +358 2046 21242 www.storaenso.com www.storaenso.com/investors STORA ENSO OYJ p.p. Leena Bergqvist Jukka Marttila