Stock Exchange release March 15, 2000 01:42:00 PM CET

METSO TO SUPPLY A PAPER MACHINE MODERNIZATION TO THE U.S.

Metso Corporation's fiber and paper technology business area, Valmet, will supply a paper machine modernization to Madison Paper Industries in Maine, USA. The total value of the Madison mill capital investment program is USD 52 million, of which the Metso order makes up an important part. The order will be delivered during the spring 2001.

The order represents Metso's combined areas of know-how in fiber and paper technology and automation and control technology. The delivery consists of stock preparation equipment, a headbox, wire and press sections and a machine ventilation system. Automation and control technology, Neles Automation delivers condition and runnability monitoring system, and an upgrade of the machine controls.

Madison Paper's target of the rebuild is to raise the paper quality and to increase the production capacity of the paper mill. The PM3 was originally supplied by Valmet.

During the first half of year 2001 Metso will supply also a rebuild to Great Northern Paper Inc. in Maine, USA. The value of this extensive rebuild order is USD 40 million.

A tissue machine to France

In addition, a high-speed tissue machine will be delivered to Lucart France S.A.S. The value of the order is app. EUR 8 million. The machine will be delivered mainly in summer 2001. The tissue machine is Metso's first order from Cartiera Lucchese S.p.A. of Italy, owner of Lucart France S.A.S.

Metso Corporation's fiber and paper technology business area, Valmet, is the leading supplier of technology, systems and equipment for the pulp, paper, converting and panelboard industries. In 1999, the business area's net sales was EUR 1.7 billion and it had a personnel of 10 600.

Metso Corporation which is a global supplier of process industry machinery and systems, was created through the merger of Rauma and Valmet Corporation on July 1, 1999. In addition to fiber and paper technology, Metso's business areas are automation and control technology and machinery. The net sales of Metso Corporation was EUR 3.4 billion in 1999 and personnel totaled approximately 23,000. Metso Corporation is listed on the Helsinki Exchanges and New York Stock Exchange.