Jukka Härmälä

B.Sc. (Econ.), Hon. Ph.D. (Tech. and Econ.) Chief Executive Officer since December 1998 Born 1946 He was employed by Enso-Gutzeit from April 1970 to February 1984, and rejoined in September 1988 as President and COO until December 1991, then President and CEO from January 1992 until the merger with STORA in 1998

Björn Hägglund

Ph.D. (For.) Deputy Chief Executive Officer since December 1998 Born 1945 He joined STORA in 1991 and was President of Stora Forest and Timber division from January 1991 until March 1998, and CEO of STORA from March 1998 until December 1998 Chairman of Stora Enso R&D and Sustainability Committees

Lars Bengtsson

M.Sc. (Tech.) Senior Executive Vice President, Stora Enso North America, since May 2003 Born 1945 Stora Enso Regional Manager for North America and member of the Board of Directors of several subsidiaries and associated companies He joined STORA in 1986 and was Executive Vice President, Fine Paper, from December 1998 until August 2000, and Senior Executive Vice President, Newsprint, from September 2000 until April 2003 Has no shares in Stora Enso Has 211 900 year 1999–2003 and 22 500 year 2004 options/synthetic options in Stora Enso

Jussi Huttunen

M.Sc. (Econ.) Senior Executive Vice President, Stora Enso Fine Paper, since January 2002 Born 1954 Member of the Board of Directors of several subsidiaries and associated companies He joined Enso-Gutzeit in 1979 and was Sales Manager at Enso Marketing Co Ltd from March 1983 until December 1985, Managing Director of Enso Rose Ltd from March 1986 until January 1992, Managing Director of Enso Marketing Co Ltd from January 1990 until January 1992, Vice President of Enso Fine Paper Division from January 1992 until July 1994, Managing Director of Enso UK from August 1994 until December 1998, and Managing Director of Stora Enso UK from January 1999 until December 2001 Member of Stora Enso Sustainability Committee Has no shares in Stora Enso Has 136 800 year 1999–2003 and 22 500 year 2004 options/synthetic options in Stora Enso

Kai Korhonen

M.Sc. (Eng.), eMBA Senior Executive Vice President, Stora Enso Paper, since May 2003 Born 1951 Member of the Board of Directors of several subsidiaries and associated companies He joined Varkaus Mill of Enso (previously A. Ahlström Osakeyhtiö) in May 1977, and was Senior Vice President, Corporate Planning, from March 1991 until December 1992, Managing Director of Sachsen Papier Eilenburg GmbH from January 1993 until February 1996, Vice President, Marketing, Enso Publication Papers from January 1996 until December 1998, Senior Executive Vice President, Newsprint, from December 1998 until August 2000, and Senior Executive Vice President, North America, from September 2000 until April 2003 Member of Stora Enso R&D and Sustainability Committees Has no shares in Stora Enso Has 226 900 year 1999–2003 and 22 500 year 2004 options/synthetic options in Stora Enso.

Pekka Laaksonen

M.Sc. (Econ.) Senior Executive Vice President, Stora Enso Packaging Boards, since December 1998 Born 1956 Stora Enso Country Manager Finland and member of the Board of Directors of several subsidiaries and associated companies, and member of the Board of Suominen Corporation Has been elected Chairman of the Board of Finnish Forest Industries Federation as of 1 January 2005 He joined the Enso Plywood Division in 1979 and was Sales Manager at Enso (Deutschland) from August 1981 until August 1984, Vice President of the Enso Plywood Division from September 1984 until June 1985, Sales Manager at Enso (Deutschland) from July 1985 until December 1988, Managing Director of Enso (Deutschland) GmbH & Co. from January 1989 until August 1993, and Executive Vice President of Enso Packaging Boards Division from January 1993 until December 1998. He was also a deputy member from August 1993 until April 1996 and full member of the Enso Board of Directors from May 1996 until December 1998 Member of Stora Enso Sustainability Committee Has 15 000 A shares, and 226 900 year 1999–2003 and 22 500 year 2004 options/synthetic options in Stora Enso

Esko Mäkeläinen

M.Sc. (Econ.) Chief Financial Officer and Senior Executive Vice President, Finance, Accounting and Legal Affairs, since September 2001 Born 1946 Member of the Board of Directors of several subsidiaries and associated companies, and the supervisory board of Mutual Pension Insurance Company Ilmarinen He joined Enso-Gutzeit in 1970 and was head of accounting at Kotka Mill from November 1970 until December 1976 and at wood products division from December 1976 until April 1977, head of budgeting from May 1977 until October 1983, Vice President and head of corporate accounting from November 1983 until December 1991, Executive Vice President, CFO and member of the Enso-Gutzeit Board of Directors from January 1992 until December 1998, and Senior Executive Vice President, Accounting and Legal Affairs from December 1998 until August 2001 Has 1 900 A and 4 669 R shares, and 226 900 year 1999–2003 and 22 500 year 2004 options/synthetic options in Stora Enso

Arno Pelkonen

M.Sc. (Econ.) Senior Executive Vice President, Stora Enso Forest Products, since May 2003 Born 1954 Member of the Board of Directors of several subsidiaries and associated companies, and member of the Board of Kuusakoski Oy He joined Enso-Gutzeit in 1984 and was Enso sawmill division Sales Manager from May 1984 until May 1986, Sales Director from May 1986 until January 1990 and Marketing Director from January 1990 until September 1995, Managing Director of Enso Timber Oy Ltd from September 1995 until December 1998, Executive Vice President and Managing Director of Stora Enso Timber Oy Ltd from December 1998 until August 2001, and Senior Executive Vice President, Timber, from August 2001 until April 2003 Member of Stora Enso Sustainability and R&D Committees Has no shares in Stora Enso. Has 196 900 year 1999–2003 and 22 500 year 2004 options/synthetic options in Stora Enso

Bernd Rettig

M.Sc. (Eng.) Senior Executive Vice President, Stora Enso Publication Paper, since May 2003 Born 1956 Member of the Board of Directors of several subsidiaries and associated companies He joined STORA in 1982 and was Managing Director of Stora Reisholz GmbH from January 1992 until May 1996, Managing Director of Stora Enso Kabel GmbH from June 1996 until March 1999, and Senior Executive Vice President, Magazine Paper, from April 1999 until May 2003 Member of Stora Enso R&D Committee Has no shares in Stora Enso Has 226 900 year 1999–2003 and 22 500 year 2004 options/synthetic options in Stora Enso

Yngve Stade

M.Sc. (Eng.) Senior Executive Vice President, Corporate Support and Energy, since December 1998 Born 1947 Stora Enso Country Manager Sweden and member of the Board of Directors of several subsidiaries and associated companies, and member of the Board of Swedish P&P Research AB and Marcus Wallenberg Foundation He joined STORA in 1994 and was Senior Vice President of STORA and President of Stora Corporate Research from March 1994 until December 1998 Member of Stora Enso Investment, R&D and Sustainability Committees Has 725 R shares, and 226 900 year 1999–2003 and 22 500 year 2004 options/synthetic options in Stora Enso

Years of issue of options/synthetic options: 1999, 2000, 2001, 2002, 2003 and 2004.

Enso-Gutzeit became Enso in May 1996.