Stock exchange release

Changes in the management of Fortum's Russian business and appointment to the Fortum Management Team

10 August 2009, 9:00 EEST

Fortum Corporation
Stock Exchange Release
10 August 2009, 9:00 am

Changes in the management of Fortum's Russian business and appointment to the Fortum Management Team Alexander A Chuvaev, born 1960, has been appointed General Director of Fortum Corporation's Russian subsidiary OAO Fortum, Executive Vice President of Fortum Corporation and member of Fortum Corporation's Management Team as of 1 October 2009. Mr Chuvaev has a versatile international experience of the industry from several managerial and executive positions. In his new position, Mr Chuvaev will be in charge of all of Fortum's Russian operations. He reports to Fortum Corporation's President and CEO Tapio Kuula. The current General Director, Dmitry Novoselov, will leave the company on 13 August 2009 in order to pursue his career elsewhere. Eric Vekilov, Vice President, Human Resources at OAO Fortum, has been appointed General Director as of 14 August until the end of September. He reports to President and CEO Tapio Kuula. Risto Riekko, Chief Operating Officer at OAO Fortum, has been appointed Deputy General Director as of 14 August 2009. He reports to the General Director of OAO Fortum. "I am very pleased to welcome Alexander Chuvaev to Fortum. His industry expertise and extensive international experience provide an excellent starting point for making our Russian businesses a successful part of Fortum," concludes President and CEO Tapio Kuula. Fortum Corporation Maria Romantschuk SVP, Corporate Communications Further information: Tapio Kuula, President and CEO, Fortum Corporation, +358 10 45 24112 Distribution: NASDAQ OMX Helsinki Key media www.fortum.com