Fortum shares subscribed for with share warrants

Fortum Corporation Stock exchange announcement 14 March 2007

Fortum shares subscribed for with share warrants

The following Fortum shares, subscribed for with Fortum Corporation's share
warrants and paid to the company, will be traded on the Main List of the
Helsinki Stock Exchange starting on 15 March 2007, together with the old

Name of scheme Subscription period Quantity

Share Option Scheme 2001A for key employees 24.1.-7.3.2007 157 100
Share Option Scheme 2001B for key employees 24.1.-7.3.2007 760 545
Share Option Scheme 2002A for key employees 24.1.-7.3.2007 87 200
Share Option Scheme 2002B for key employees 24.1.-7.3.2007 1 500 654

The increase in share capital resulting from the share subscriptions, a total
of EUR 8 518 696.60, was entered in the Trade Register on 14 March 2007. After
the increase, Fortum Corporation's share capital is EUR 3 033 973 506.60, and
the total number of shares is 890 685 149. Following the share subscriptions,
the shareholders' equity of Fortum Corporation increased by a total of EUR 8
518 696.60.

The above-mentioned shares are entitled to a dividend possibly paid for 2006
during the spring of 2007. The holders of these new shares are also entitled to
participate in the Annual General Meeting on 28 March 2007 under the terms
indicated in the notice to the shareholder's meeting.

Identifiers of Fortum Corporation's share on 15 March 2007:

Trading code: FUM1V
ISIN code: FI0009007132
Number of shares: 890,685,149

The intention is that the next time share subscriptions related to Fortum share
option schemes are registered will be approximately on 9 May 2007, when the new
shares subscribed for by 30 April 2007 will be registered. The subscription
period of share option schemes 2001A, 2001B and 2002A will also end on 30 April

Fortum Corporation
Carola Teir-Lehtinen
Senior Vice President, Corporate Communications

Helsinki Stock Exchange
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