Stock exchange release

HSE: FORTUM CORPORATION: SHARES SUBSCRIBED WITH OPTION RIGHTS

23 January 2007, 11:45 EET

EXCHANGE NOTICE 23/2007, 23 JANUARY 2007 SHARES

FORTUM CORPORATION: SHARES SUBSCRIBED WITH OPTION RIGHTS A total of 786 004 shares have been subscribed with the Fortum Corporation’s 2001A, 2001B, 2002A and 2002B option rights. The shares will be traded on the Helsinki Stock Exchange as old shares as of 24 January 2007. Identifiers of Fortum Corporation's share: Trading code: FUM1V ISIN code: FI0009007132 Orderbook id: 24271 Amount of shares: 888 179 650 HELSINKI STOCK EXCHANGE Janne Seppänen Head of Surveillance