*FORTUM CORPORATION: - SHARES SUBSCRIBED

HEX HELSINKI SECURITIES EXCHANGE RELEASE 45/2004
SHARES 12 February 2004

FORTUM CORPORATION: - SHARES SUBSCRIBED WITH OPTION RIGHTS

A total of 981 004 Fortum Corporation's shares have been
subscribed with the Fortum Corporation's 1999 option rights.
The shares will be traded on the Helsinki Exchanges as old
shares as of 13 February 2004.

Identifiers of Fortum Corporation's share:

Trading code: FUM1V
ISIN code: FI0009007132
Number of shares: 849 813 479


HELSINKI EXCHANGES
Mikko Timonen