Stock exchange release

*FORTUM CORPORATION: - SHARES SUBSCRIBED

05 May 2003, 12:09 EEST

HEX HELSINKI SECURITIES EXCHANGE RELEASE 121/2003
SHARES 5 May 2003

FORTUM CORPORATION: - SHARES SUBSCRIBED WITH OPTION RIGHTS A total of 72 060 Fortum Corporation's shares have been subscribed with the Fortum Corporation's 1999 option rights. The shares will be traded on the Helsinki Exchanges as old shares as of 6 May 2003. Identifiers of Fortum Corporation's share as of 6 May 2003: Trading code: FUM1V ISIN code: FI0009007132 Number of shares: 845 847 615 HELSINKI EXCHANGES Pekka Peiponen