Fortum shares subscribed for with share warrants

Fortum Corporation
Stock exchange announcement
23 January 2009 at 12:00 EET

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 NASDAQ
OMX Helsinki starting on 26 January 2009, together with the old shares.

| Name of scheme                        |  Subscription period |      Quantity |
| Share Option Scheme 2002B for key     |   1 December 2008 -  |       151,250 |
| employees                             |      15 January 2009 |               |

The increase in share capital resulting from the share subscriptions, totalling
EUR 514,250.00, was entered in the Trade Register on 23 January 2009. Following
this increase, Fortum Corporation's share capital is EUR 3,044,221,722.00 and
the total number of shares is 887,789,330. Following the share subscriptions,
the shareholders' equity of Fortum Corporation increased by a total of EUR

Identifiers of Fortum Corporation share on 26 January 2009:

Trading code: FUM1V
ISIN code: FI0009007132
Number of shares: 887,789,330

The intention is that the next time share subscriptions related to the Fortum
Share Option Scheme 2002B are registered will be approximately on 24 March 2009,
when the new shares subscribed for by 17 March 2009 will be registered. The
shares subscribed for with options by 17 March 2009 at the latest are entitled
to a dividend possibly paid for 2008 during the spring of 2009. The holders of
these new shares are also entitled to participate in the Annual General Meeting
in the spring of 2009 under the terms indicated in the notice to the
shareholders' meeting.

After March's registration the next time share subscriptions are intended to be
registered is approximately on 8 May 2009, when the new shares subscribed for by
30 April 2009 will be registered. The subscription period for Share Option
Scheme 2002B finishes 30 April 2009.

Fortum Corporation
Maria Romantschuk
Senior Vice President, Corporate Communications

Additional information:
Jouni Huttunen, Head of Treasury Management, +358 10 45 24649

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