Stock exchange release

Competition authority approves Fortum's St. Petersburg Generation Company acquisition

17 October 2006, 9:45 EEST

Fortum Corporation Stock Exchange Release 17 October 2006

Competition authority approves Fortum's St. Petersburg Generation Company acquisition The Russian competition authority has today given its approval to the agreement Fortum has made with ABN AMRO Finance ZAO entitling Fortum to purchase approximately 12.5 percent of OAO St. Petersburg Generating Company. Fortum expects to close the acquisition during this week. Once concluded, this transaction will increase Fortum's ownership in Territorial Generation Company-1 from the current approximately 18 percent to slightly over 25 percent. Fortum's stock exchange release on the acquisition was published on 10 October 2006. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications Further information: Kari Kautinen, Vice President, +358 50 45 32174 or +7 812 9048282 Distribution: Helsinki Stock Exchange Key media