Stock exchange release

Fortum shares subscribed for with share warrants

10 December 2007, 10:48 EET

The following Fortum shares, subscribed for with Fortum Corporation's share warrants and paid to the company, will be traded on the Main List of the Helsinki Stock Exchange starting on 11 December 2007, together with the old shares.

--------------------------------------------------------------------------------
| Name of scheme                        | Subscription period  | Quantity      |
--------------------------------------------------------------------------------
| Share Option Scheme 2002B for key     | 11.9.-30.11.2007     | 474,132       |
| employees                             |                      |               |
--------------------------------------------------------------------------------


The increase in share capital resulting from the share subscriptions, a total of
EUR 1,612,048.80 was entered in the Trade Register on 10 December 2007. After   
this increase, Fortum Corporation's share capital is EUR 3,040,460,397.20 and   
the total number of shares is 892,593,058. Following the share subscriptions,   
the shareholders' equity of Fortum Corporation increased by a total of EUR      
1,612,048.80.                                                                   

Identifiers of Fortum Corporation's share on 11 December 2007:                  

Trading code: FUM1V                                                             
ISIN code: FI0009007132                                                         
Number of shares: 892,593,058                                                   

The intention is that the next time share subscriptions related to the Fortum   
Share Option Scheme 2002B are registered will be approximately on 23 January    
2008, when the new shares subscribed for by 15 January 2008 will be registered. 

After the registration in January, shares subscribed for with the options are   
planned to be registered next time on or around 17 March 2008, when the new     
shares subscribed for by 10 March 2008 will be registered. The shares subscribed
for with options by 10 March 2008 at the latest are entitled to a dividend      
possibly paid for 2007 during the spring of 2008. The holders of these new      
shares are also entitled to participate in the Annual General Meeting in the    
spring of 2008 under the terms indicated in the notice to the shareholders'     
meeting.                                                                        

Fortum Corporation                                                              
Maria Romantschuk                                                               
Senior Vice President, Corporate Communications                                 

Distribution:                                                                   
Helsinki Stock Exchange                                                         
Key media