Fennovoima's press release June 5 2008

6/5/2008 6:30 AM EST

FENNOVOIMA STARTS TECHNICAL PLANNING IN THREE LOCATIONS

Fennovoima's technical preplanning in possible nuclear power plant locations has been completed. The company proceeds now to technical planning in Pyhäjoki, Ruotsinpyhtää and Simo. Fennovoima is refraining from further studies in Kristinestad.

A location for a nuclear plant must fulfill numerous technical and safety related requirements set by the power company and the authorities. Fennovoima has examined how these requirements can be fulfilled in all the location alternatives during the preplanning phase this spring.

- The now completed studies show that the conditions in Pyhäjoki, Ruotsinpyhtää and Simo are very favorable for locating a new nuclear power plant. In these three locations, we will now proceed to technical planning of plant areas together with our selected plant supplier candidates, states Mr. Tapio Saarenpää, CEO of Fennovoima.

It is of great importance for Fennovoima that the nuclear power plant project can be carried out in close and open cooperation with the local community. In Kristinestad, Fennovoima started studies related to a new nuclear plant in June 2007 based on the unanimous decision of the city board. During the following months, however, the project has divided the decision-makers of Kristinestad in two groups in a way that in Fennovoima's view prevents the city from possessing the conditions necessary for carrying out the project consistently.

Fennovoima started the studies for the locations of a new nuclear plant in summer 2007. At the time, areas in more than ten municipalities were included. In August 2008, the company decided to focus on six municipalities. In December 2007, Fennovoima started the Environmental Impact Assessment in four municipalities. Now, in June 2008, the technical preplanning of the locations has been completed.

The Environmental Impact Assessment will be completed in September 2008. The company submits its application for a Decision-in-Principle for the Finnish government by the beginning of 2009. In the application, Fennovoima presents its final location alternatives. The decision about the alternatives depends on the results of the Environmental Impact Assessment, technical planning and other research operations.

For more information, please contact Mr. Tapio Saarenpää, CEO of Fennovoima, +358 207 579202 or Mr. Pasi Natri, EVP Communications, +358 207 579204.