Stock exchange release

Fortum shares subscribed for with share warrants

08 December 2008, 10:15 EET

Fortum Corporation Stock exchange announcement 8.12.2008 at 10.15 EET

Fortum shares subscribed for with share warrants                                

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 NASDAQ 
OMX Helsinki starting on 9 December 2008, together with the old shares.         

| Name of scheme                        |  Subscription period |      Quantity |
| Share Option Scheme 2002B for key     |       9 September -  |       120 650 |
| employees                             |     28 November 2008 |               |

The increase in share capital resulting from the share subscriptions, totalling 
EUR 410,210.00, was entered in the Trade Register on 8 December 2008. Following 
this increase, Fortum Corporation's share capital is EUR 3,043,707,472.00 and   
the total number of shares is 887,638,080. Following the share subscriptions,   
the shareholders' equity of Fortum Corporation increased by a total of EUR      

Identifiers of Fortum Corporation share on 9 December 2008:                     

Trading code: FUM1V                                                             
ISIN code: FI0009007132                                                         
Number of shares: 887,638,080                                                   

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    
2009, when the new shares subscribed for by 15 January 2009 will be registered. 

After January's registration the next time share subscriptions are intended to  
be registered is approximately on 24 March 2009, when the new shares subscribed 
for by 17 March 2009 will be registered. The shares subscribed for with options 
by 17 March 2008 at the latest are entitled to a dividend possibly paid for 2008
during the spring of 2009. The holders of these new shares are also entitled to 
participate in the Annual General Meeting in the spring of 2009 under the terms 
indicated in the notice to the shareholders' meeting. The subscription period   
for Share Option Scheme 2002B finishes 30 April 2009.                           

Fortum Corporation                                                              
Maria Romantschuk                                                               
Senior Vice President, Corporate Communications                                 

Additional information:                                                         
Jouni Huttunen, Head of Treasury Management, +358 10 45 24649                   

NASDAQ OMX Helsinki                                                             
Key media