Stock exchange release

Fortum shares subscribed for with share warrants

08 December 2006, 9:48 EET

Fortum Corporation Stock exchange announcement 08 December 2006

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 Helsinki Stock Exchange starting on 11 December 2006, together with the old shares. Name of scheme Subscription period Quantity Share Option Scheme 2001A for 11 Sept. - 30 Nov. 2006 181,850 key employees Share Option Scheme 2001B for 11 Sept. - 30 Nov. 2006 664,753 key employees Share Option Scheme 2002A for 11 Sept. - 30 Nov. 2006 76,550 key employees Share Option Scheme 2002B for 2 Oct. - 30 Nov. 2006 4,856,488 key employees The increase in share capital resulting from the share subscriptions, a total of EUR 19,650,779.40 was entered in the Trade Register on 8 December 2006. After this increase, Fortum Corporation's share capital is EUR 3,022,782,396.40 and the total number of shares is 889,053,646. Following the share subscriptions, the shareholders' equity of Fortum Corporation increased by a total of EUR 19,650,779.40. Identifiers of Fortum Corporation's share on 11 December 2006: Trading code: FUM1V ISIN code: FI0009007132 Number of shares: 889,053,646 The final combined amount of Fortum's 2002B options is 10,003,000. These options may collectively be used to subscribe for a maximum of 10,003,000 shares, and the share capital may increase by a maximum of 34,010,200 euros as a result of the share subscriptions. The intention is that the next time share subscriptions related to Fortum share option schemes are registered will be approximately on 23 January 2007, when the new shares subscribed for by 15 January 2007 will be registered. After the registration in January, shares subscribed for with the options are planned to be registered next time on or around 15 March 2007, when the new shares subscribed for by 7 March 2007 will be registered. The shares subscribed for with options by 7 March 2007 are entitled to a dividend possibly paid for 2006 during the spring of 2007. The holders of these new shares are also entitled to participate in the Annual General Meeting in the spring of 2007 under the terms indicated in the notice to the shareholders' meeting. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications Distribution: Helsinki Stock Exchange