Press release

Fortum and Sappi Finland agree on extensive long-term energy cooperation

28 May 2009, 13:11 EEST

Fortumm Markets Press release 28.5.2009

Fortum and Sappi Finland agree on extensive long-term energy cooperation        

Fortum and Sappi Finland Oy have agreed on extensive portfolio management,      
delivery of physical electricity and production balance management. Sappi       
Finland is a part of the Sappi Fine Paper Europe group, the leading European    
coated fine paper manufacturer. The company has ten production plants in Europe.
Two of these, the Kirkniemi and Kangas mills, are located in Finland. The       
long-term agreement between Fortum and Sappi Finland will ensure close          
cooperation at least until the end of 2012.                                     

Portfolio management service includes electricity management hedging trades,    
risk management and reporting. In addition, Fortum takes care of production     
balance management and physical electricity delivery for Sappi Finland's mills. 
Sappi's own production covers approximately 600 GWh. The rest of the ca. 1.1 TWh
electricity need, is covered by Fortum's deliveries. The present agreement is,  
therefore, also a considerable electricity delivery contract.                   

“We welcome Fortum Markets as our electricity supply partner convinced by their 
extensive experience and energy expertise. As we have already a long standing   
and good cooperation with Fortum Heat and Service on the operation and          
maintenance of Kirkniemi's power plant, we look forward to extending our        
partnership” says Martti Savalainen Director Sappi Kirkniemi mill.              

As part of the acquisition of M-real's coated graphic paper business in the     
latter half of 2008, Sappi acquired two paper mills in Finland: Kirkniemi mill  
in Lohja and Kangas mill in Jyväskylä. The mills produce world class coated     
magazine papers for top quality publications under the Galerie brand. Sappi is  
now the largest supplier of coated paper in Europe and the world.               

“Demand for extensive energy partnership solutions continues to increase in the 
manufacturing industry. Our versatile energy expertise allows wide cooperation  
with large and small customers alike, whether operating in Finland, Sweden or   
Norway - or in them all. It is considerably easier to work with one familiar,   
reliable partner than with many operators,” says Risto Paldanius of Fortum      

Fortum Markets                                                                  
Further information:                                                            
Martti Savalainen, Sappi Finland Oy, tel. +358 10 464 2475                      
Risto Paldanius, Fortum Markets, tel. +358 40 501 3669                          

Sappi is the world's leading producer of coated fine paper used in premium      
magazines, catalogues, books and high-end print advertising. SFPE is            
headquartered in Brussels, Belgium. Its brands include Magno, HannoArt, Tempo,  
Quatro, Royal, Allegro, Cento, Era, Euro, Furioso, Galerie, Mega and Tauro      
graphic papers, as well as Algro, Leine and Parade speciality labelling and     
packaging papers and boards.                                                    
SFPE is a division of Sappi Limited (NYSE, JSE, LSE), a global company          
headquartered in Johannesburg, South Africa, with manufacturing operations on   
four continents in 9 countries, sales offices in 50 countries, and customers in 
over 100 countries around the world. Learn more about Sappi at:  

Fortum is a leading energy company focusing on the Nordic countries, Russia and 
the Baltic Rim area. Activities cover the generation, distribution and sale of  
electricity and heat and the operation and maintenance of power plants. Fortum  
Markets is a leading electricity retailer, and the number one seller of         
eco-labelled electricity in the Nordic Countries. Fortum Markets buys all its   
electricity from the Nordic Pool and sells it to household and business         
customers and other electricity retailers in Finland, Sweden and Norway. In     
addition to actual electricity, Fortum Markets offers its business customers    
extensive risk management and portfolio management services.