Stock exchange release

Fortum and E.ON agree on E.ON Finland shares

02 February 2006, 16:22 EET

Fortum Corporation STOCK EXCHANGE RELEASE 2 February 2006

Fortum and E.ON agree on E.ON Finland shares E.ON Nordic AB and Fortum have today signed an agreement according to which Fortum acquires all the 10,246,565 E.ON Finland Oyj shares currently held by E.ON Nordic. This corresponds to 65.56 % of the shares and the voting rights of the company. The purchase price is EUR 37.12 per share, i.e. approximately EUR 380 million in total. When the transaction is effected, Fortum and E.ON Nordic will terminate the arbitration court proceedings regarding the transfer of E.ON Finland's shares. In connection to the transaction, all related outstanding open issues between E.ON and Fortum have been settled. As a consequence, Fortum will pay E.ON a total compensation of EUR 16 million. The transaction is subject to approval by the Finnish Competition Authority. When the transaction is effected, the agreement signed between the City of Espoo and Fortum on 18 January 2006 regarding the 5,351,859 E.ON Finland shares held by the City of Espoo will also come into force. After Fortum has acquired the shares in E.ON Finland owned by both the City of Espoo and E.ON Nordic, it will own 15,598,424 shares in total. This corresponds to 99,8 % of the shares and the voting rights of E.ON Finland. The turnover of the E.ON Finland Group over the last published twelve months (October - September 2005) was approximately EUR 232 million, EBITDA was roughly EUR 72 million and operating profit about EUR 43 million. The company employs some 350 persons and has approximately 175,000 customers. Fortum Corporation Carola Teir-Lehtinen SVP, Corporate Communications For more information: Senior Vice President Tapio Kuula +358 50 452 4112 CFO Juha Laaksonen +358 50 452 4519 SVP, Corporate Communications Carola Teir-Lehtinen +358 50 452 4118 Distribution: Helsinki Stock Exchange Key media