FORTUM'S RETAIL OFFERING ALLOCATION PRINCIPLES DECIDED

The total amount of Fortum's Retail offering orders were approximately FIM 1,4 billion. The amount exceeded the initial amount of 8 million shares by approximately five times. The number of orders given amounted to about 53 000. Due to strong demand and the high number number of investors the amount of retail offering was increased to 22 million shares.

 

Due to the very high number of investors, and the aim being to fulfil the 500 share minimum allocation, the Ministry of Trade and Industry has decided the following allocation principles:

 

- In the Bonus offering the orders were fully approved up to 500 shares.  The orders were not approved whereas exceeding 500 shares. The maximum order amount in the Bonus offering was 3 000 shares.

- In the non-Bonus Retail offering the orders are fully approved up to 500 shares.

 In addition, approximately 10% of the amount exceeding 3000 shares is accepted. The final number of shares will be adjusted to the nearest 10 shares.

 

The amount equalling the orders that are not approved, increased with a 3% annual interest, will  be credited to the subscriber's accounts latest 22nd December 1998.

 

Further information: Markku Tapio, Deputy Director General, tel. +358 9 160 3598

 

Fortum Corporation 

Antti Ruuskanen

Corporate Executive Vice President, Communications

 

 

DISTRIBUTION:   

Helsinki Exchanges

Key Media

 

The information contained herein is not for publication or distribution to persons in the United States of America. The securities referred to herein have not been and will not be registered under the US Securaties Act of 1993, as amended. The materials do not constitute an offer of securities for sale in the United States; the securities may not be offered or sold in the United States absent registration or an exemption from registration; and any public offering of securities to be made in the United States by means of a prospectus that may be obtained from the issuer or the selling holder ant that will contain detailed information about the company and management, as well as financial statements.