FORTUM CORPORATION: - SHARES SUBSCRIBED WITH OPTION RIGHTS

HEX HELSINKI CASH MARKET RELEASE 269/2004
SHARES 1 July 2004

FORTUM CORPORATION: - SHARES SUBSCRIBED WITH OPTION RIGHTS

A total of 59 415 Fortum Corporation's shares have been
subscribed with the Fortum Corporation's 1999 bond with
warrant and a total of 389 000 shares have been subscribed
with the Fortum Corporation’s 1999 option rights. The shares
will be traded on the Helsinki Exchanges as old shares as
of 2 July 2004.

Identifiers of Fortum Corporation's share:

Trading code: FUM1V
ISIN code: FI0009007132
Number of shares: 850 261 894


HELSINKI EXCHANGES
Janne Seppänen