Stock exchange release

Fortum shares subscribed for with share warrants

03 March 2006, 9:32 EET

Fortum Corporation STOCK EXCHANGE RELEASE 3 March 2006

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 6 March 2006, together with the old shares. Name of scheme Subscription period pcs Share Option Scheme 2001A for key employees 1 Dec 2005- 23 Feb 2006 2,630,650 Share Option Scheme 2001B for key employees 16 Jan 2006- 23 Feb 2006 3,241,980 Share Option Scheme 2002A for key employees 1 Dec 2005- 23 Feb 2006 379,570 The increase in share capital resulting from the share subscriptions, a total of EUR 21,257,480, was entered in the Trade Register on 3 March 2006. After this increase, Fortum Corporation's share capital is EUR 2,997,257,165 and the total number of shares is 881,546,225. Following the share subscriptions, Fortum Corporation's shareholders' equity increased by a total of EUR 24,726,398.60. The above-mentioned shares are entitled to the dividend possibly paid for 2005 during the spring of 2006. The holders of these new shares are also entitled to participate in the Annual General Meeting on 16 March 2006 under the terms indicated in the invitation to the meeting. Basic data on Fortum Corporation's share on 6 March 2006: Trading code: FUM1V ISIN code: FI0009007132 Number of shares: 881,546,225 The intention is that the next time share subscriptions related to Fortum share option schemes are registered will be approximately on 8 June 2006, when new shares subscribed for by 31 May 2006 will be registered. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications For further information, please contact: Jouni Huttunen, tel. +358 10 452 4649 Distribution: Helsinki Stock Exchange Key media