Stock exchange release

FORTUM STARTS REPURCHASING THE COMPANY'S OWN SHARES

28 March 2007, 18:50 EEST

On 28 March 2007 Fortum Corporation's Annual General Meeting authorised the
Board of Directors to repurchase the company's own shares. The Board of
Directors has decided to start repurchasing shares at the earliest on 24 April
2007. The acquisitions will continue until further notice.

The shares will be acquired in order to direct the capital structure of the company towards the agreed target level. The maximum amount of shares to be repurchased is 20 million shares. In addition, the amount of consideration used for the acquisitions may not exceed EUR 300 million. The shares will be repurchased through public trading of the securities on the Helsinki Stock Exchange, which means that they will not be purchased in proportion to the holdings of the shareholders. The acquisition price of the shares must be based on the price of Fortum's share in public trading. Shares repurchased by the company shall be cancelled through a separate decision made by the Board of Directors. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications For further information, please contact: Jouni Huttunen, Head of Treasury Management, Fortum Corporation, +358 50 45 24649 Distribution: Helsinki Stock Exchange Key media www.fortum.com