FORTUM ESPOO'S RELEASE: FORTUM HOLDS 100% OF FORTUM ESPOO

FORTUM ESPOO'S RELEASE: FORTUM HOLDS 100% OF FORTUM ESPOO Fortum Espoo Oyj, a subsidiary of Fortum Corporation, has today issued the stock exchange release attached below. Fortum Corporation Carola Teir-Lehtinen SVP, Corporate Communications For more information: SVP, Corporate Communications Carola Teir-Lehtinen, tel. +358 50 452 4118 Distribution: Helsinki Stock Exchange Key media APPENDIX FORTUM ESPOO OYJ STOCK EXCHANGE RELEASE 13 September 2006 FORTUM HOLDS 100% OF FORTUM ESPOO The Arbitration Court appointed by the redemption committee of the Central Chamber of Commerce has today confirmed that Fortum Corporation (Fortum) has an undisputed right to redeem the minority shares of Fortum Espoo Oyj (Fortum Espoo) and that Fortum has the right to obtain the title to the minority shares by setting a security approved by the Arbitration Court for the redemption price and the interest payable on it. Fortum has set the required security and has thereby today obtained the title to the entire share capital of Fortum Espoo, as provided under the Finnish Companies Act. After the setting of the security, Fortum Espoo's minority shareholders, who are parties to the redemption process, are only entitled to receive the redemption price and the interest payable on it. The minority shareholders will later be sent further details of the decision of the Arbitration Court and of other procedures in accordance with the instructions provided by the Arbitration Court. Fortum Espoo Oyj Timo Karttinen President and CEO For more information: Timo Karttinen, President and CEO, tel. +358 20 520 5800 Distribution: Helsinki Stock Exchange Key media