Stock exchange release


09 June 2005, 10:35 EEST

9 June 2005 1 (1)

FORTUM SHARES SUBSCRIBED FOR WITH SHARE WARRANTS The following Fortum shares, subscribed for and paid to the company relating to Fortum Corporation's share warrants, will be traded on the Main List of the Helsinki Stock Exchange starting on 10 June 2005, together with the old shares. Name of scheme Subscription period Quantity Bond loan with warrants for 6 April-17 May 2005 684,777 employees 1999 Management share option scheme 6 April-31 May 2005 96,000 1999 Share Option Scheme 2002A for 18 April-31 May 2005 158,500 key employees The increase in the share capital resulting from the share subscriptions, a total of EUR 3,193,541.80, was entered in the Trade Register on 9 June 2005. After this increase, Fortum Corporation's share capital is EUR 2,967,497,815 and the total number of shares is 872,793,475. Following the share subscriptions, Fortum Corporation's shareholders' equity increased by a total of EUR 3,405,701.80. According to the terms of subscription, the new shares subscribed for under the scheme 'Bond loan with warrants for employees 1999' and the scheme 'Management share option 1999' will entitle to a dividend possibly paid by the company for the financial period of 2005 and onwards. The entitlement to a dividend of shares subscribed for via 'Share Option Scheme 2002A for key employees' will begin once the increase of share capital has been entered in the Trade Register. Other shareholder rights will become effective on the date of registration, 9 June 2005. Basic data of Fortum Corporation shares on 10 June 2005: Trading code: FUM1V ISIN code: FI0009007132 Number of shares: 872,793,475 The next time when the share subscriptions connected to the Management share option scheme (1999) and Share option scheme 2002A for key employees are planned for approval will be in early September, when the trading of shares subscribed for by the end of August 2005 will commence. The possibility to subscribe shares based on the share warrants relating to the Bond loan with warrants for employees 1999 ended on 17 May 2005. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications Further information: Jouni Huttunen, tel. +358 10 452 4649 Distribution: Helsinki Stock Exchange Key media