Stock exchange release

*FORTUM CORPORATION: - SHARES SUBSCRIBED

18 December 2003, 14:29 EET

HEX HELSINKI SECURITIES EXCHANGE RELEASE 355/2003
SHARES 3 December 2003

FORTUM CORPORATION: - SHARES SUBSCRIBED WITH OPTION RIGHTS A total of 2 934 700 Fortum Corporation's shares have been subscribed with the Fortum Corporation's 1999 option rights. The shares will be traded on the Helsinki Exchanges as old shares as of 19 December 2003. Identifiers of Fortum Corporation's share: Trading code: FUM1V ISIN code: FI0009007132 Number of shares: 848 832 475 HELSINKI EXCHANGES Pekka Peiponen