FORTUM SHARES SUBSCRIBED FOR WITH SHA

FORTUM SHARES SUBSCRIBED FOR WITH SHARE WARRANTS RELATING TO FORTUM’S 1999 WARRANT BOND TO EMPLOYEES Shares, which have been subscribed for and paid to the company between 17 April and 19 August 2003 based on the share warrants relating to Fortum Corporation’s 1999 warrant bond to the employees, will be traded on the Main List of the Helsinki Exchanges starting on 4 September 2003, together with the old shares. A total of 50,160 Fortum Corporation shares were subscribed for with the share warrants. The increase in the share capital resulting from the share subscriptions, a total of 170,544.00 euro, has been entered into the trade register on 3 September 2003. After the increase, Fortum Corporation’s share capital is 2,876,052,435.00 euro and the total number of shares is 845,897,775. As a result of the share subscriptions, Fortum Corporation’s shareholders’ equity increased by a total of 203,148.00 euro. According to the terms of subscription, the new shares will entitle to a dividend possibly paid by the company for the financial period of 2003. Other shareholder rights will become effective on the date of registration, 3 September 2003. Basic data of Fortum Corporation share on 4 September 2003: Trading code: FUM1V ISIN code: FI0009007132 Number of shares: 845,897,775 Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications Further information: Seppo Viitanen, Group Treasurer, tel. +358 10 452 4477 Distribution: Helsinki Exchanges www.fortum.com