Stock exchange release

Fortum shares subscribed for with share warrants

09 January 2009, 09:00 EET

Fortum Corporation Stock exchange announcement 9.1.2009 at 9.00 EET

Fortum shares subscribed for with share warrants                                

The following new shares have been subscribed for with Fortum Corporation's     
share warrants:                                                                 
                                                                                
--------------------------------------------------------------------------------
| Name of scheme                        |  Subscription period |      Quantity |
--------------------------------------------------------------------------------
| Share Option Scheme 2002B for key     |        1 December -  |        56,000 |
| employees                             |     31 December 2008 |               |
--------------------------------------------------------------------------------

                                                                                
The corresponding increase in share capital has not yet been entered in the     
trade register.                                                                 
                                                                                
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 2009 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                   

Distribution:                                                                   
NASDAQ OMX Helsinki                                                             
Key media                                                                       
www.fortum.com