Fortum and E.ON agree on E.ON Finland shares

Fortum Corporation        STOCK EXCHANGE RELEASE          2 February 2006


Fortum and E.ON agree on E.ON Finland shares

E.ON Nordic AB and Fortum have today signed an agreement according to which
Fortum acquires all the 10,246,565 E.ON Finland Oyj shares currently held by E.ON
Nordic. This corresponds to 65.56 % of the shares and the voting rights of the
company. The purchase price is EUR 37.12 per share, i.e. approximately EUR 380
million in total.

When the transaction is effected, Fortum and E.ON Nordic will terminate the
arbitration court proceedings regarding the transfer of E.ON Finland's shares. In
connection to the transaction, all related outstanding open issues between E.ON
and Fortum have been settled. As a consequence, Fortum will pay E.ON a total
compensation of EUR 16 million.

The transaction is subject to approval by the Finnish Competition Authority.

When the transaction is effected, the agreement signed between the City of Espoo
and Fortum on 18 January 2006 regarding the 5,351,859 E.ON Finland shares held by
the City of Espoo will also come into force. After Fortum has acquired the shares
in E.ON Finland owned by both the City of Espoo and E.ON Nordic, it will own
15,598,424 shares in total. This corresponds to 99,8 % of the shares and the
voting rights of E.ON Finland.

The turnover of the E.ON Finland Group over the last published twelve months
(October - September 2005) was approximately EUR 232 million, EBITDA was roughly
EUR 72 million and operating profit about EUR 43 million. The company employs
some 350 persons and has approximately 175,000 customers.


Fortum Corporation
Carola Teir-Lehtinen
SVP, Corporate Communications

For more information:

Senior Vice President Tapio Kuula +358 50 452 4112
CFO Juha Laaksonen +358 50 452 4519
SVP, Corporate  Communications Carola Teir-Lehtinen +358 50 452 4118

Distribution:

Helsinki Stock Exchange
Key media

About Us

Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com

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