Stock exchange release

HSE: FORTUM CORPORATION: SHARES SUBSCRIBED WITH OPTION RIGHTS

11 January 2005, 13:13 EET

EXCHANGE NOTICE 10/2005, 11 January 2005 SHARES

FORTUM CORPORATION: SHARES SUBSCRIBED WITH OPTION RIGHTS

A total of 599 593 Fortum Corporation's shares have been
subscribed with the Fortum Corporation's 1999 bond with warrant
and a total of 1 348 000 shares have been subscribed with the
Fortum Corporations 1999 option rights and 717 100 shares have
been subscribed with the Fortum Corporations 2002A option rights.
The shares will be traded on the Helsinki Stock Exchange as old
shares as of 12 January 2005.

Identifiers of Fortum Corporation's share:

Trading code:                       FUM1V
ISIN code:                          FI0009007132
Orderbook id:                       24271
Number of shares:                   869 748 598


HELSINKI STOCK EXCHANGE
Janne Seppänen
Vice President Surveillance Finland