The Board members for the next term proposed by Fortum Corporation's shareholders' committee to the Board of Directors of Fortum Corporation and furthermore to Fortum Oil's Annual General Meeting are the following.


Former CEO of Huhtamäki Corporation Timo Peltola chairman, Partner of Sponsor Capital Oy Mikael von Frenckell vice-chairman, Vice President, Business Development of UPM Newsprint Division Ainomaija Haarla, CEO of Metsäliitto Osuuskunta Kari Jordan, CFO of Fortum Corporation Juha Laaksonen, corporate finance specialist and former member of senior management of Electrolux AB and Vattenfall AB Nina Linander, Advisor for state owner policy at the Ministry of Trade and Industry Pekka Timonen and CEO of Onvest Oy Maarit Toivanen-Koivisto.


All the nominees have given their assent to the task.


The proposed Board fees are as follows:



euro 55,000/year

Vice-chairman :

euro 42,000/year


euro 30,000/year

Meeting fee: *)

euro 500/meeting


*) Applies also to the Board's committee meetings


The election of the Board is related to the plan to separate oil businesses from Fortum Corporation which is to be decided by the Annual General Meeting on 31 March 2005.



Fortum Corporation

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