Fortum shares subscribed for with share warrants

Fortum Corporation Stock Exchange Announcement 8 November 2006


Fortum shares subscribed for with share warrants

The following new shares have been subscribed for with Fortum Corporation's
share warrants:

Name of scheme Subscription period Quantity
Share Option Scheme 2001A for 1 Oct - 31 Oct 2006 -
key employees
Share Option Scheme 2001B for 1 Oct - 31 Oct 2006 -
key employees
Share Option Scheme 2002A for 1 Oct - 31 Oct 2006 -
key employees
Share Option Scheme 2002B for 1 Oct - 31 Oct 2006 4,300
key employees

The corresponding increase in share capital has not yet been entered in the
trade register. The intention is that the share subscriptions related to Fortum
Corporation's option schemes will be registered next time on or around 8
December 2006, when new shares subscribed for by 30 November 2006 will be registered.

The subscription price of the shares subscribed for under any Fortum option
scheme equals the nominal value of the share, 3.40 euros. Therefore, any
dividends paid do not reduce the subscription price since the terms and
conditions of the options state that the subscription price must not be less
than the nominal value of the share.


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

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

Distribution:
Helsinki Stock Exchange