M-real Corporation expected in connection to the third quarter 2011 result announcement that its operating result, excluding non-recurring items, will in the fourth quarter be roughly at the third quarter level. The third quarter operating result, excluding non-recurring items, was six million Euros.The delivery volumes of pulp and paper have, however, been lower than expected, and the pulp price has decreased more than anticipated. Also the board delivery volumes have been somewhat lower than expected. Due to these facts, the fourth quarter operating result, excluding non-recurring items, will be clearly weaker than in the third quarter, M-real announced Thursday.M-real will publish the financial results for 2011 on 9 February 2012. /AA