Stock exchange release

Fortum shares subscribed for with share warrants

09 February 2007, 09:15 EET

Fortum Corporation Stock exchange announcement 9 February 2007

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 key         24.1.-31.1.2007       -            
 Share Option Scheme 2001B for key         24.1.-31.1.2007       7,500        
 Share Option Scheme 2002A for key         24.1.-31.1.2007       -            
 Share Option Scheme 2002B for key         24.1.-31.1.2007       24,000       

The corresponding increase in share capital has not yet been entered in the trade

The intention is that the next time share subscriptions related to Fortum share
option schemes are registered will be approximately on 15 March 2007, when the
new shares subscribed for by 7 March 2007 will be registered. The shares
subscribed for with options by 7 March 2007 are entitled to a dividend possibly
paid for 2006 during the spring of 2007. The holders of these new shares are also
entitled to participate in the Annual General Meeting in the spring of 2007 under
the terms indicated in the notice to the shareholders' meeting.

Since the subscription price of the shares subscribed for under any Fortum option
scheme equals the nominal value of the share, EUR 3.40, any dividends paid do not
reduce the subscription price.

Fortum Corporation
Carola Teir-Lehtinen
Senior Vice President, Corporate Communications

For further information, please contact:
Jouni Huttunen, tel. +358 10 452 4649

Helsinki Stock Exchange