Stock exchange release

FORTUM CORPORATION: SHARES SUBSCRIBED WITH OPTION RIGHTS

09 December 2004, 16:25 EET

EXCHANGE NOTICE 493/2004, 9 December 2004 SHARES

FORTUM CORPORATION: SHARES SUBSCRIBED WITH OPTION RIGHTS A total of 4 355 020 Fortum Corporation's shares have been subscribed with the Fortum Corporation's 1999 bond with warrant and a total of 4 514 000 shares have been subscribed with the Fortum Corporation’s 1999 option rights and 4 550 100 shares have been subscribed with the Fortum Corporation’s 2002A option rights. The shares will be traded on the Helsinki Stock Exchange as old shares as of 10 december 2004. Identifiers of Fortum Corporation's share: Trading code: FUM1V ISIN code: FI0009007132 Orderbook id: 24271 Number of shares: 867 083 905 HELSINKI STOCK EXCHANGE Janne Seppänen Vice President Surveillance Finland