2002A OPTIONS FOR FORTUM'S KEY PERSONNEL OF 2002 TO BE LISTED ON HELSINKI STOCK EXCHANGE'S MAIN LIST

Fortum Corporation STOCK EXCHANGE ANNOUNCEMENT
29 September 2004 1 (1)


2002A OPTIONS FOR FORTUM'S KEY PERSONNEL OF 2002 TO BE LISTED ON HELSINKI STOCK
EXCHANGE'S MAIN LIST

The options 2002A offered to the key personnel of Fortum Group in 2002 will
commence trading on the main list of Helsinki Stock Exchange on 1 October 2004.
During 2002 Fortum Corporation offered 12,500,000 options under the code 2002A
for subscription by the Group’s key personnel. About 350 key persons subscribed
for the options, and the total number of options for which they subscribed was
11,063,000. In compliance with the terms and conditions of the option
arrangement, Fortum Corporation has redeemed some of the options as a result of
changes in key personnel.

The total number of options to be listed is 10,767,000. Each option gives the
right to subscribe for one Fortum Corporation share with a nominal value of EUR
3.40 during the period between 1 October 2004 and 1 May 2007. The options may
collectively be used to subscribe for a maximum of 10,767,000 shares, and the
share capital may consequently be increased by a maximum of EUR 36,607,800.

The subscription price for shares on the basis of these options will be EUR
4.74 at the start of listing. Subscriptions for shares can be made at the asset
management branches of Nordea Bank Finland plc. The right of shares to a
dividend and other shareholder rights will commence once the increase of share
capital has been registered with the Trade Register.

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


For further information:
Jouni Huttunen, tel. +358 10 452 4649


Distribution:
Helsinki Stock Exchange
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