M-real Oyj (HEL:MRL) Standard & Poor's Downgrades M-real's Credit Rating

M-real Oyj (HEL:MRL) M-real Corporation Stock Exchange Release 16 January 2009

Standard & Poor's has today downgraded M-real Corporation's B- rating to CCC+. The outlook of the rating remains negative.

Downgrade has an annual impact of approximately EUR 2 million on M-real's current annual financing costs.

M-REAL CORPORATION

Further information: Seppo Parvi, CFO, tel. +358 10 465 4321 Juha Laine, Vice President, IR and Communications, tel. +358 10 465 4335

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

M-real Oyj

http://www.m-real.com

ISIN: FI0009000665

Stock Identifier: XHEL.MRL