APPOINTMENTS IN FORTUM MANAGEMENT

After a very successful development during the current decade, Fortum is now
entering a new phase. In order to kick-start the further steps, the following
appointments have been made:

Fortum Management Team (FMT)
Maria Paatero-Kaarnakari, currently VP Corporate Development, will become SVP,
Corporate Strategy. The position is new and prompted by the strategic
opportunities and challenges facing Fortum going forward. Maria Romantschuk,
currently Head of Press Relations at the office of The President of Finland,
will become SVP, Corporate Communications. The current position holder, Carola
Teir-Lehtinen, will move to a new position (see below). Both SVP´s report to the
President and CEO Mikael Lilius.

A change of reporting lines to FMT has already happened: besides Fortum Heat
also the business unit Fortum Värme is reporting to SVP Timo Karttinen.


Business Units
Four out of Fortum´s total of seven Business Units will have a new head:

Matti Ruotsala, currently VP, AGCO Corporation and Managing Director of Valtra
Inc, will become President of Fortum Generation. The Unit´s current head, Pekka
Päätiläinen, will continue as Senior Advisor until his retirement in the summer
of 2008. Both will report to SVP Tapio Kuula.

Per Langer, currently head of the Portfolio Management and Trading (PMT) unit,
will become President of Fortum Heat. The Unit´s current head, Risto Riekko,
will continue as Senior Advisor until his retirement in the summer of 2008. Both
will report to SVP Timo Karttinen.

Kalle Ahlstedt, currently VP Physical Portfolio Management, will become
President of Fortum PMT and report to Tapio Kuula.

Markku Vauhkonen, with a long international career within the TetraLaval Group,
will become President of Fortum Service and report to Tapio Kuula. The Unit´s
current head, Kim Kronstedt, will move to a new position (see below).


Corporate Staff Units
Carola Teir-Lehtinen, currently SVP Corporate Communications, will become
Corporate VP, Sustainable Development. The position is new and prompted by
Fortum´s desire to making sustainability, especially the climate issue, a
success factor for the company. She will continue to report to Mikael Lilius.

Kim Kronstedt, currently President of Fortum Service, will become the Group
Safety Manager and report to Carola Teir-Lehtinen.

Arja Koski, currently Corporate VP Environment, Health and Safety, will become
VP Renewables in the Generation business unit. The position is new and prompted
by Fortum´s desire to further increase the share of renewable energy sources in
its generation portfolio. She will report to Matti Ruotsala and be a member of
the unit management team.

Päivi Mecklin, former head of the Corporate Financial Services unit, has been
appointed head of the Customer Services unit. She reports to SVP Christian
Lundberg. The former head of this unit, Markku Moilanen, is currently finishing
his doctoral thesis.

Ensio Väisänen, formerly VP Development, has been appointed head of the
Corporate Financial Services unit. He reports to CFO Juha Laaksonen.


Other changes
The current Corporate Communications unit will be split.

The Corporate Branding function, headed by Susanna Serlachius-Pressler, will
start reporting to Christian Lundberg in his role as supervisor of the two
business units with the largest customer interfaces, Fortum Markets and Fortum
Distribution. The current Swedish Communication unit, headed by Ann
Lindell-Saeby, will also start reporting to Christian Lundberg in his role as
country head for Sweden.


The changes will become effective on September 1st, except for Matti Ruotsala,
who will assume his position somewhat later during the fall. Päivi Mecklin and
Ensio Väisänen have already started in their new positions.

"I am very pleased with this rearrangement of our top management. With these
changes we have reinforced our praxis of job rotation, we have created some new
positions in order to promote strategically important endeavors and we have
obtained some new blood into the organisation. All three are needed to enable a
successful journey into Fortum´s next phase", concludes President and CEO Mikael
Lilius.


Fortum Corporation
Carola Teir-Lehtinen
SVP, Corporate Communications

Further information:
Mikael Lilius, President and CEO, Fortum Corporation, +358 10 29100

Distribution:
Helsinki Stock Exchange
Key media
www.fortum.com