Stock Exchange release April 4, 2005 04:31:37 PM CET


 The Annual General Meeting of Metso Corporation approved the accounts for 2004 as presented by the Board of Directors and voted to discharge the members of the Board of Directors and the President and CEO of Metso Corporation from liability for the 2004 financial year. In addition, the Annual General Meeting approved the proposals of the Board of Directors. These applied to authorizations to resolve to repurchase and to dispose the Corporation's own shares, to increase the share capital by issuing new shares, convertible bonds and/or stock options. Furthermore, stock options were decided to be canceled as proposed by the Board of Directors.
The Annual General Meeting decided to establish a Nomination Committee of the Annual General Meeting to prepare proposals for the following General Meeting in respect of the composition of the Board of Directors along with the director remuneration. Nomination Committee consists of the representatives appointed by the four biggest shareholders along with the Chairman of the Board of Directors as an expert member. Furthermore, the Articles of Association were amended to state that a person of 68 of age or over is not eligible to become elected to the Board of Directors.
Matti Kavetvuo was re-elected the Chairman of the Board and Jaakko Rauramo, Chairman of the Board of SanomaWSOY Corporation, was re-elected the Vice Chairman of the Board. Svante Adde was elected a new member of the Board. Board members re-elected were Maija-Liisa Friman, President and CEO of Aspocomp Group Oyj; Satu Huber, State Treasury, Director of Finance and Head of Finance Division; and D. Sc. (Tech.) Juhani Kuusi. The auditing company, Authorized Public Accountant PricewaterhouseCoopers was re-elected to act as an Auditor of the Corporation.
The Annual General Meeting decided that a dividend of EUR 0.35 per share be paid for the financial year which ended on December 31, 2004. The dividend will be paid to shareholders who have been entered as shareholders in the Corporation's shareholder register maintained by the Finnish Central Securities Depository Ltd. by the dividend record date, April 7, 2005. The dividend will be paid on April 14, 2005.

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