FORTUM´S BOARD OF DIRECTORS ELECTED

FORTUM´S BOARD OF DIRECTORS ELECTED Fortum´s Supervisory Board has today elected the members of the company´s Board of Directors. Mr Peter Fagernäs, Managing Director of Hermitage & Co. Oy, was elected as a new member and Chairman of the Board. Mr Heikki Pentti, Chairman of Lemminkäinen Corporation, will continue as Deputy Chairman. The current Board members, Mrs Birgitta Kantola, Master of Laws, Mr Erkki Virtanen, Permanent Secretary at the Ministry of Trade and Industry, Mr Antti Lagerroos, CEO of Finnlines Plc as well as Mr Lasse Kurkilahti, CEO of Elcoteq Network Corporation will continue. In case the extraordinary shareholder´s meeting on December 18th, 2003 approves the changes to the articles of association, a new Board of Directors will be elected for one year at Fortum´s Annual General Meeting on March 25th, 2004. On this occasion the composition of the Board might be strengthened by an international member. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications Distribution: Helsinki Exchanges Key media