HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE JULY 25, 2003 AT 13.10 1/9

ENCOURAGING VOLUME DEVELOPMENT, MARGINS STILL UNDER PRESSURE

Interim Report January 1 - June 30, 2003
Huhtamaki, the consumer packaging specialist, continued to see an
encouraging volume development in the second quarter of 2003. The
reported net sales amounted to EUR 556 million, 9% below prior. Sales
volumes were up by 3% while currency translations depressed the sales
figure by 9% and price/mix by a further 3%. The operating profit before
amortization (EBITA) of EUR 42 million (-39%) was impacted by continued
margin pressure from higher raw material costs year-on-year and lower
sales prices.

Key figures
Q2 Change H1 Change
EUR million 2003 y-o-y,% 2003 y-o-y,%
Net sales 556 -9 1,074 -8
EBITA 42 -39 ...