Operations in 2002 Quarterly Data and Key Figures Board Report Consolidated Financial Statements Parent Company Financial Statements Financial Notes Auditors’ Report The Share Corporate Governance

	The Share Share Capital Share Listings and Registers Changes in Share Capital Option Programmes Shareholders Share Price Performance and Volumes Indices Key Share Ratios		Reports 2002  >  Financials 2002  >  The Share  >  Shareholders Shareholders When shareholders with holdings of more than 5% of the shares or votes are excluded, the free float of shares is approximately 717 million, corresponding to 80% of the total number of shares issued. The largest single shareholder in the Company is the Finnish State. However, since June 1998 the Finnish State has not been required to own Stora Enso shares. At the end of 2002 the Company had approximately 75 000 registered shareholders, of which about 50 000 are Swedish shareholders and about 3 000 ADR holders. Each nominee register is entered in the share register as one shareholder. Approximately 657 million (73%) of the Company's shares were registered in the name of a nominee.
	Major Shareholders as of 31 December 2002 By Voting Power Series A Series R % of Shares % of Votes 1 Finnish State 55 595 937 41 483 501 10.8 23.5 2 Knut and Alice Wallenberg Foundation 58 379 194 - 6.5 23.0 3 Social Insurance Institution of Finland 23 825 086 3 738 965 3.1 9.5 4 Varma-Sampo Mutual Pension Insurance Company 8 922 117 140 874 1.0 3.5 5 Sampo Group      Sampo Life Insurance Company Limited      If P&C Insurance Company Ltd 6 485 589 - 0.7 2.6 6 Marianne and Marcus Wallenberg Foundation 4 744 192 - 0.5 1.9 7 Ilmarinen Mutual Pension Insurance Company 3 490 040 4 344 550 0.9 1.5 8 Suomi Group      Suomi Mutual Life Assurance Company      Suomi Insurance Company 3 240 000 423 200 0.4 1.3 9 Erik Johan's Ljungberg's Education Fund 1 880 540 4 831 804 0.7 0.9 10 AMF Pensionsförsäkrings AB - 17 000 000 1.9 0.7 11 MP-Bolagen i Vetlanda AB        Werner von Seydlitz 1 521 400 1 655 000 0.4 0.7 12 Robur - 9 865 904 1.1 0.4 13 Bergslaget's Healthcare Foundation 626 269 1 609 483 0.2 0.3 14 Lamar Mary M (ADRs) - 4 518 998 0.5 0.2 15 Handelsbanken CEA 380 855 708 435 0.1 0.2   Total 169 091 219 90 320 714 28.8 70.2   Nominee registered shares 75 378 219 581 796 741 73.0 52.6 The list has been compiled by the Company, on the basis of shareholder information obtained from Finnish Central Securities Depository (APK), VPC and a database managed by Citibank. In 2002, the Finnish State reported sales of Stora Enso shares on 4 April and 14 June. Management Interests at 31 December 2002 At the end of 2002 members of Stora Enso Oyj's Board of Directors, the CEO and the Deputy CEO owned an aggregate total of 2 803 921 Stora Enso shares, of which 19 275 were A shares. These shares represent 0.3% of the Company's share capital and 0.1% of the voting rights. Through warrants the CEO is entitled to subscribe for 102 000 R shares representing 0.0% of the Company's share capital and voting rights. The CEO holds 442 500 options/synthetic options and the Deputy CEO 363 750. At the end of 2002 members of the Management Group owned a total of 154 904 shares and through warrants were entitled to subscribe for 532 468 R shares. Management Group ownership represents 0.1% of the share capital and 0.0% of the voting rights after the exercise of the warrants. The Management Group holds 3 143 750 options/synthetic options. Further information on Board and Management Group ownerships is given in Notes 17 and 24. Shareholdings of Other Group-related Bodies at 31 December 2002 1 880 540 A shares and 4 831 804 R shares were owned by E.J.Ljungberg's Education Fund, 5 096 A shares and 13 085 R shares by Mr. and Mrs. Ljungberg's Testamentary Fund and 626 269 A shares and 1 609 483 R shares by Bergslagets Healthcare Foundation.