Stock Exchange release November 12, 2004 10:55:15 AM CET

FRANKLIN RESOURCES INC.'S HOLDINGS IN METSO

Metso Corporation has been informed about the change in the holding of the funds managed by Franklin Resources, Inc. of the paid up share capital of Metso Corporation. The funds managed by Franklin Resources, Inc. owned Metso's shares and ADR's on November 10, 2004 as follows
 
 
Templeton Global Advisers,  Ltd.
3,527,031 shares
Templeton Investment Counsel, LLC           
427,160 shares
Franklin Templeton Investment Mgmt. Ltd.
1,767,985 shares
Franklin Templeton Investments Corp.
70,066 shares
Franklin Templeton Investments (Asia) Ltd.
966,920 shares
Total 
6,759,162 shares
 
This holding amounts to 4.96 percent of the paid up share capital and the total votes of Metso Corporation after being, on the basis of their previous announcement, 5.17 percent on June 12, 2002.
 
In addition, Franklin Resources, Inc. has voting authority representing 2.05 percent of total shares as follows:
 
 
Templeton Global Advisers Ltd.
17,278 shares
Templeton Investment Counsel, LLC           
2,650,358 shares/ADRs
Franklin Templeton Investment Mgmt. Ltd.
75,040 shares
Franklin Templeton Investments Corp.
39,780 shares
Franklin Templeton Investments (Asia) Ltd.
5,535 shares
Total
2,787,991 shares/ADRs
 
Total amount of voting rights managed by the funds of Franklin Resources, Inc. represented 7.01 percent of Metso's paid up share capital after being, on the basis of their previous announcement, 6.30 percent on June 12, 2002.
 
Metso Corporation is a global supplier of process industry machinery and systems, as well as know-how and aftermarket services. The Corporation's core businesses are fiber and paper technology (Metso Paper), rock and mineral processing (Metso Minerals) and automation and control technology (Metso Automation). In 2003, the net sales of Metso Corporation were EUR 4.3 billion. Metso has approximately 23,000 employees in over 50 countries. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.