Stock exchange release

Fortum shares subscribed for with share warrants

08 September 2005, 10:04 EEST

Fortum Corporation STOCK EXCHANGE ANNOUNCEMENT 8 September 2005

Fortum shares subscribed for with share warrants The following Fortum shares, subscribed for with Fortum Corporation's share warrants and paid to the company, will be traded on the Main List of the Helsinki Stock Exchange starting on 9 September 2005, together with the old shares. Name of scheme Subscription period Quantity Management share option scheme 10 June - 31 August 2005 45,000 1999 Share Option Scheme 2002A for 10 June - 31 August 2005 142,500 key employees The increase in share capital resulting from the share subscriptions, a total of EUR 637,500, was entered in the Trade Register on 8 September 2005. After this increase, Fortum Corporation's share capital is EUR 2,968,135,315 and the total number of shares is 872,980,975. Following the share subscriptions, Fortum Corporation's shareholders' equity increased by a total of EUR 736,950. According to the terms of subscription, the new shares subscribed for under the Management share option scheme 1999 will entitle to a dividend possibly paid by the company for the financial period of 2005 and onwards. The new shares subscribed for under the Share Option Scheme 2002A for key employees will entitle to a dividend once the increase in share capital has been entered in the Trade Register. Other shareholder rights will become effective on the date of registration, 8 September 2005. Identifiers of Fortum's share on 9 September 2005: Trading code: FUM1V ISIN code FI0009007132 Number of shares 872,980,975 The next share subscriptions related to Fortum Corporation's option schemes are planned to be approved in early December, when the trading of shares subscribed for by the end of November 2005 will commence. However, the subscription period under the Management share option scheme 1999 will end already on 1 October 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