Stock exchange release

Fortum shares subscribed for with share warrants

10 August 2006, 11:04 EEST

Fortum Corporation STOCK EXCHANGE ANNOUNCEMENT 10 August 2006

Fortum shares subscribed for with share warrants The following new shares have been subscribed for with Fortum Corporation's share warrants: Name of scheme Subscription period Quantity Share Option Scheme 2001A for 1.6.-31.7.2006 - key employees Share Option Scheme 2001B for 1.6.-31.7.2006 10,000 key employees Share Option Scheme 2002A for 1.6.-31.7.2006 - key employees The corresponding increase in share capital has not yet been entered in the trade register. The intention is that the next time share subscriptions related to Fortum Corporation's option schemes will be registered is approximately on 8 September 2006, when new shares subscribed for by 31 August 2006 will be registered. The subscription price of the shares subscribed for under the Fortum option schemes 2001A, 2001B and 2002A equals the nominal value of the share, 3.40 euros. Therefore, any dividends paid do not reduce the subscription price since the terms and conditions of the options state that the subscription price must not be less than the nominal value of the share. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications For further information, please contact: Jouni Huttunen, tel.+ 358 10 452 4649 Distributed to: Helsinki Stock Exchange Key media