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

 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

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
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