Holmen has earlier made provision for the cost

The cost following today's decision of the EU court of law to uphold the
EU Commission's ruling in the so-called Paperboard Case, was taken up to
income by the then MoDo in 1994. The amount has earlier been paid. This
means that today's decision does not affect Holmen's future results.

Following an enquiry, the EU Commission in 1994 ruled that some 20
European paperboard producers had been involved in activities infringing
EU-competition law between the years 1986-1990.

For MoDo the fines were fixed at euro 22.7 million.

Holmen AB, P.O. Box 5407, SE-114 84 Stockholm, Sweden.

Visiting address: Strandvägen 1, Stockholm.

Tel: +46 8 666 21 00   E-mail: info@holmen.com

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