TVO’s Extraordinary General Meeting decided today

to start the first phase of the project. The objective of the bidding and engineering phase is to carry out the competitive bidding process, select a plant unit that is safe and meets all the latest safety requirements.In July 2010, the Finnish Parliament ratified the favourable decision-in-principle made by the Government concerning TVO’s application to construct its fourth nuclear power plant unit OL4. According to the decision-in-principle, the application for a building permit for the OL4 must be filed latest in June 2015. After the bidding and engineering phase TVO will have the prerequisites to apply for a building permit from the Government.UPM’s participating in the

financing corresponds to its share of the ownership in TVO through Pohjolan

Voima Oy. /KB