Stock exchange release

MATTI VUORIA TO BECOME CEO OF VARMA-SAMP

16 June 2003, 9:30 EEST

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