Fortum shares subscribed for with share warrants

Fortum Corporation STOCK EXCHANGE ANNOUNCEMENT 8 September 2005

Fortum shares subscribed for with share warrants

The following Fortum shares, subscribed for with Fortum Corporation's share
warrants and paid to the company, will be traded on the Main List of the
Helsinki
Stock Exchange starting on 9 September 2005, together with the old shares.

Name of scheme Subscription period Quantity

Management share option scheme 10 June - 31 August 2005 45,000
1999
Share Option Scheme 2002A for 10 June - 31 August 2005 142,500
key employees

The increase in share capital resulting from the share subscriptions, a total of
EUR 637,500, was entered in the Trade Register on 8 September 2005. After this
increase, Fortum Corporation's share capital is EUR 2,968,135,315 and the total
number of shares is 872,980,975. Following the share subscriptions, Fortum
Corporation's shareholders' equity increased by a total of EUR 736,950.

According to the terms of subscription, the new shares subscribed for under the
Management share option scheme 1999 will entitle to a dividend possibly paid by
the company for the financial period of 2005 and onwards. The new shares
subscribed for under the Share Option Scheme 2002A for key employees will
entitle
to a dividend once the increase in share capital has been entered in the Trade
Register. Other shareholder rights will become effective on the date of
registration, 8 September 2005.

Identifiers of Fortum's share on 9 September 2005:
Trading code: FUM1V
ISIN code FI0009007132
Number of shares 872,980,975

The next share subscriptions related to Fortum Corporation's option schemes are
planned to be approved in early December, when the trading of shares subscribed
for by the end of November 2005 will commence. However, the subscription period
under the Management share option scheme 1999 will end already on 1 October
2005.

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

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


Distribution:
Helsinki Stock Exchange
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