MATTI VUORIA TO BECOME CEO OF VARMA-SAMP

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 FortumĀ“s Executive Chairman until
the end of this year.

The members of FortumĀ“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