Jussi Pesonen of UPM Wins RISI European CEO of the Year Award for the Pulp and Paper Industry

BRUSSELS, January 24, 2011 - RISI, the leading information provider for the forest products industry,
today announced that Jussi Pesonen, President and CEO of UPM, has been
selected as the RISI European CEO of the Year for the pulp and paper industry
for 2011. The award will be presented at RISI's 13th European Pulp and Paper
Outlook Conference in Amsterdam on March 15-17, 2011.

(Logo: photos.prnewswire.com/prnh/20080521/NEW122LOGO )

European analysts and portfolio managers covering the forest products
industry choose the European CEO of the Year annually through a survey
organized by RISI. The criteria for nomination include leadership, vision and
strategic accomplishment. This is the second time that Mr. Pesonen has won
this prestigious award, having first received the title in 2007.

Describing the reason behind Mr. Pesonen's nomination, one analyst
commented, "UPM's recent entering into the agreement to acquire the
Myllykoski Corporation and Rhein Papier signals that under Pesonen's
leadership the company is proving itself to be the ultimate trailblazer of
consolidation in European industry, something that is vital as the industry
goes forward out of recession and back into profitability."

Another analyst pointed to Mr. Pesonen's track record of implementation,
saying "Pesonen is showing clear vision in a number of ways, strategic
acquisitions in paper, CAPEX spending in low cost pulp production in Latin
America, and investment in C02 free energy production in Finland. What
impresses me is that he is not talking about all these opportunities, he is
actually doing them."

"It's a great honour to accept this award and now even for the second
time. I consider this recognition for UPM's commitment to transform and
develop the company and also the whole industry. As the Biofore Company, we
want to have a leading role in building a sustainable future with innovative
products and new ways to operate," said Jussi Pesonen.

Mr. Pesonen has held the position of President and CEO since January
2004. Born in 1960, he has a Master of Science degree in engineering in
process technology from the University of Oulu, Finland. Mr. Pesonen joined
UPM in 1987 as a production engineer, advancing rapidly into leading
management posts in various paper business areas including Vice President of
the Newsprint Product Group and COO of the paper divisions. He has also
served as deputy to the President and CEO in 2001-2004.

He is the Vice Chairman of the Confederation of European Paper Industries
(CEPI) and the Finnish Forest Industries Federation (FFIF). He also serves on
the boards of UPM and the stainless steel company Outokumpu Oyj.

RISI's European CEO of the Year Award was inaugurated in 2007 and the
first winner was Mr. Pesonen. Jouko Karvinen of Stora Enso won the award in
2008 and again in 2010. Christian Rynning-Tønnesen of Norske Skog won in
2009. RISI also runs regional CEO of the Year Awards in Latin America, Asia
and North America and a Global CEO Award as part of the annual PPI Awards
program.

For more information on the RISI European Pulp & Paper Outlook
Conference, visit www.risi.com/euroconf.

About UPM

UPM leads the integration of bio and forest industries into a new,
sustainable and innovation-driven future. Our products are made of renewable
raw materials and are recyclable. UPM consists of three Business Groups:
Energy and pulp, Paper, and Engineered materials. The Group employs around
23,000 people and it has production plants in 15 countries. In 2009, UPM's
sales amounted to EUR 7.7 billion. UPM's shares are listed on the Helsinki
stock exchange. UPM - The Biofore Company - www.upm.com.

About RISI

RISI is the leading information provider for the global forest products
industry. The company works with clients in the pulp and paper, wood
products, timber, biomass, tissue, nonwovens, printing and publishing
industries to help them make better decisions.

Headquartered in Boston, MA, RISI operates additional offices throughout
North and South America, Europe and Asia. More information can be found at
www.risi.com.

    Contact:
    Jennifer Plourde
    Associate Marketing Manager
    RISI
    4 Alfred Circle
    Bedford, MA 01730 USA
    Tel: +1-781-734-8917
    jplourde@risi.com

Jennifer Plourde, Associate Marketing Manager, RISI, +1-781-734-8917, jplourde at risi.com