FORTUM APPEALS AGAINST THE SWEDISH ENERGY MARKET AUTHORITY'S DECISION

The Swedish Energy Market Authority, Energimyndigheten, announced yesterday the
decision concerning pricing at two electricity distribution areas of Fortum in
2003. According to the decision Fortum would have to return about MSEK 250 of
the collected distribution charges. The authority has previously published
respective decisions for 13 other distribution companies. Fortum will appeal
against the decision to the County Administrative Court, because the
theoretical grid model the authority applied as its basis does not correspond
to the actual circumstances. All the other distribution companies that got the
decision have also appealed. The decisions will not be efficient until the
appeal processes have been finished.

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

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