Matti Vuoria to become CEO of Varma-Sampo as of June 1st, 2004

Fortum Corporation STOCK EXCHANGE RELEASE
16 June 2003 at 10.30 a.m. 1 (1)





MATTI VUORIA TO BECOME CEO OF VARMA-SAMPO AS OF JUNE 1ST,2004


The Chairman of Fortum Oyj, Mr Matti Vuoria, has today been
appointed President and CEO of Varma-Sampo, a major Finnish mutual
pension insurance company, as of June 1st, 2004.

Matti Vuoria will continue as Fortum´s Executive Chairman until
the end of this year.

The members of Fortum´s Board of Directors are appointed for a
period of one calendar year.



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


Distribution:
Helsinki Exchanges
Key media