Stock exchange release

NOTICE OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS OF FORTUM CORPORATION

19 February 2008, 09:31 EET

The shareholders of Fortum Corporation are invited to the Annual General Meeting
to be held on Tuesday, 1 April 2008, at 1:00 p.m. at Finlandia Hall, address:   
Mannerheimintie 13 e, Helsinki. Entrance: Mannerheimintie door M4 and           
Karamzininkatu door K4. Registration of shareholders who have notified the      
company of their attendance will begin at 11:45 a.m. The Annual General Meeting 
will be conducted in Finnish and interpreted simultaneously into Swedish and    
English.                                                                        

Matters belonging to the Annual General Meeting pursuant to Paragraph 18 of the 
Articles of Association and Section 3 of Chapter 5 of the Companies Act as well 
as the other following matters will be on the agenda of the Annual General      
Meeting:                                                                        

1. Adoption of the financial statements and the consolidated financial          
statements                                                                      

2. Distribution of profit                                                       

The Board of Directors proposes to the Annual General Meeting that a dividend of
EUR 1.35 per share be paid based on the adopted balance sheet for the financial 
year that ended on 31 December 2007. Of this dividend, EUR 0.77 per share is to 
be paid from the company's recurring earnings and EUR 0.58 per share as         
additional dividend in order to steer the company's capital structure towards   
the target. The dividend will be paid to shareholders registered in the register
of shareholders maintained by the Finnish Central Securities Depository Ltd on  
the record date for dividend payment, 4 April 2008. The dividend will be paid on
11 April 2008.                                                                  

3. Discharge from liability for the Supervisory Board, the Board of Directors   
and the Managing Director                                                       

4. Compensation for the members of the Supervisory Board and the Board of       
Directors as well as the Auditor                                                

The Shareholders' Nomination Committee proposes to the Annual General Meeting   
that the Board of Directors receive the following compensation: for the         
chairman, EUR 66,000 per year; for the deputy chairman, EUR 49,200 per year; and
for each member, EUR 35,400 per year. In addition, a fee of EUR 600 for each    
meeting of the Board of Directors and its committees is proposed. For Board     
members living outside Finland in Europe the fee for each meeting is proposed to
be doubled.                                                                     

5. The number of the members of the Supervisory Board and election of chairman, 
deputy chairman and members of the Supervisory Board                            

6. The number of the members of the Board of Directors and election of chairman,
deputy chairman and members of the Board of Directors                           

The Shareholders' Nomination Committee proposes to the Annual General Meeting   
that the chairman Peter Fagernäs and members Esko Aho, Birgitta                 
Johansson-Hedberg, Marianne Lie and Christian Ramm-Schmidt be re-elected. The   
Committee proposes that Matti Lehti, currently a member of the Board of         
Directors, be elected as deputy chairman and that Ilona Ervasti-Vaintola, Group 
Chief Counsel, be elected as a new member of the Board of Directors.            

7. Election of Auditor                                                          

On the recommendation of the Audit Committee, the Board of Directors proposes   
that the Annual General Meeting elect Deloitte & Touche Oy, chartered           
accountants, as the auditor.                                                    

8. Proposal of the Board of Directors to amend Paragraph 8 of the Articles of   
Association                                                                     

The Board of Directors proposes to the Annual General Meeting that Paragraph 8  
of the Articles of Association be amended so that the maximum number of members 
to be elected, in addition to the chairman and deputy chairman, increases from  
five to six.                                                                    
                                                                                
9. Proposal of the Board of Directors to authorise the Board of Directors to    
decide to repurchase the company's own shares                                   

The Board of Directors proposes to the Annual General Meeting that the Board of 
Directors be authorised to decide to repurchase the company's own shares by     
using non-restricted equity. The authorisation is proposed to be valid until the
next Annual General Meeting.                                                    

The shares will be repurchased in order to steer Fortum's capital structure     
towards the target.                                                             

The maximum amount of shares to be repurchased is 15 million shares. In         
addition, the amount of funds used for the repurchases may not exceed EUR 300   
million.                                                                        

The shares will be repurchased through public trading of the securities on OMX  
Nordic Exchange Helsinki Oy, which means that they will not be purchased in     
proportion to the holdings of the shareholders. The repurchase price of the     
shares shall be based on the public trading price of Fortum shares.             

Shares repurchased by the company shall be cancelled by a separate decision of  
Board of Directors.                                                             

10. Proposal by the State of Finland to appoint a Nomination Committee          

The State of Finland proposes that the Annual General Meeting resolve to appoint
a Nomination Committee to prepare proposals concerning Board members and their  
remuneration for the following Annual General Meeting. The Nomination Committee 
will consist of the chairman of the Board of Directors, acting as an expert     
member, and the representatives of the three main shareholders. The three       
shareholders whose share of the total votes of all the shares of the company is 
largest on the 3rd day of November preceding the Annual General Meeting will    
have the right to appoint the members representing the shareholders. Should a   
shareholder not wish to use its right to nominate, this right will be passed on 
to the next biggest shareholder. The largest shareholders will be determined on 
the basis of the ownership information registered in the book-entry system. In  
case an owner is required under the Securities Markets Act to report certain    
changes in ownership (when flagging by shareholder is required), for example    
when the ownership is distributed among various funds, the ownership will be    
counted as one holding, if the owner informs the Board in writing of this       
request no later than on 31 October 2008.                                       

The Nomination Committee will be convened by the chairman of the Board of       
Directors, and the Committee will choose a chairman from among its own members. 

The Committee shall give its proposal to the Board of Directors of the company  
at the latest by the 2nd of February preceding the Annual General Meeting.      

11. Proposal of shareholder George Jauhiainen to dissolve the Supervisory Board 

Availability of documents                                                       
	                                                                              
The annual report of Fortum, which includes the financial statements, the       
operating and financial review and the auditor's report, as well as the         
proposals mentioned above in sections 8 and 9 will be available to shareholders 
on Fortum's website (www.fortum.com/agm) at the latest from 14 March 2008 and   
will be sent to shareholders on request (please send an e-mail to               
[email protected] or telephone +358 (0) 10 45 29151 between 10:00  
a.m. - 2:00 p.m. (Finnish time) on business days). They are also available at   
the Annual General Meeting.                                                     

Right to attend the Annual General Meeting                                      

Shareholders who are registered on 20 March 2008 in the register of shareholders
of the company, maintained by the Finnish Central Securities Depository Ltd, are
entitled to attend the Annual General Meeting.                                  

Shareholders who hold their shares under the name of a nominee can be           
temporarily registered in the register of shareholders of the company on 20     
March 2008 to allow attendance at the Annual General Meeting.                   
	                                                                             
Shareholders wishing to attend the Annual General Meeting must notify the 
company of their attendance by 4:00 p.m. (Finnish time) on 25 March 2008 at the 
latest. You may notify you attendance                                           

- at the Fortum website at www.fortum.com/agm                                   
- by phone on +358 (0) 10 452 9460                                              
- by fax on +358 (0) 10 262 2727                                                
- by letter to Fortum Corporation, Corporate Legal Affairs/ AGM, P.O. Box 1,    
00048 FORTUM.                                                                   

Notifications must arrive by 4:00 p.m. (Finnish time) on 25 March 2008 at the   
latest.                                                                         

Powers of attorney                                                              

Any powers of attorney should be delivered so that they arrive by 4:00 p.m.     
(Finnish time) on 25 March 2008 at the latest.                                  

In Espoo, on 30 January 2008                                                    

FORTUM CORPORATION                                                              
Board of Directors                                                              

Disribution:                                                                    
OMX Nordic Exchanges Helsinki                                                   
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