*FORTUM CORPORATION: - SHARES SUBSCRIBED

HEX HELSINKI SECURITIES EXCHANGE RELEASE 355/2003
SHARES 3 December 2003

FORTUM CORPORATION: - SHARES SUBSCRIBED WITH OPTION RIGHTS

A total of 2 934 700 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 19 December 2003.

Identifiers of Fortum Corporation's share:

Trading code: FUM1V
ISIN code: FI0009007132
Number of shares: 848 832 475


HELSINKI EXCHANGES
Pekka Peiponen