Stock exchange release

NOTIFICATION REFERRED TO IN CHAPTER 2, SECTION 9 OF THE FINNISH SECURITIES MARKET

03 June 2005, 14:45 EEST

Fortum Corporation STOCK EXCHANGE RELEASE 03.06.2005 at 14.45

NOTIFICATION REFERRED TO IN CHAPTER 2, SECTION 9 OF THE FINNISH SECURITIES MARKET ACT ON AN AGREEMENT RESULTING IN A POSSIBLE CHANGE IN OWNERSHIP OF FORTUM OYJ. Citigroup Global Markets Limited has recently informed Fortum Oyj about the following in relation to their agreement with the Republic of Finland regarding an accelerated bookbuilt offering of Fortum Corporation's shares: A. Target company: Fortum Corporation (business identity code: 1463611-4) B. Date of the agreement: 2 June 2005 C. Citigroup Global Markets' holding in Fortum Corporation may as a result of the agreement increase to 62,900,000 shares corresponding to 7.21 per cent of the share capital and voting rights in Fortum Corporation. D. Fortum Corporation's share capital comprises 871,854,198 shares that carry a total of 871,854,198 votes. E. Full name of notifying party: Citigroup Global Markets Limited. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications Distribution: Helsinki Stock Exchange Key media