Fortum shares subscribed for with share warrants

Fortum Corporation        STOCK EXCHANGE RELEASE          3 March 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 6 March 2006, together with the old shares.

Name of scheme                 Subscription period       pcs
Share Option Scheme
2001A for key employees        1 Dec 2005- 23 Feb 2006    2,630,650

Share Option Scheme
2001B for key employees       16 Jan 2006- 23 Feb 2006    3,241,980
Share Option Scheme
2002A for key employees        1 Dec 2005- 23 Feb 2006      379,570


The increase in share capital resulting from the share subscriptions, a total of
EUR 21,257,480, was entered in the Trade Register on 3 March 2006. After this
increase, Fortum Corporation's share capital is EUR 2,997,257,165 and the total
number of shares is 881,546,225. Following the share subscriptions, Fortum
Corporation's shareholders' equity increased by a total of EUR 24,726,398.60.

The above-mentioned shares are entitled to the dividend possibly paid for 2005
during the spring of 2006. The holders of these new shares are also entitled to
participate in the Annual General Meeting on 16 March 2006 under the terms
indicated in the invitation to the meeting.


Basic data on Fortum Corporation's share on 6 March 2006:
Trading code: FUM1V
ISIN code: FI0009007132
Number of shares: 881,546,225

The intention is that the next time share subscriptions related to Fortum share
option schemes are registered will be approximately on 8 June 2006, when new
shares subscribed for by 31 May 2006 will be registered.


Fortum Corporation
Carola Teir-Lehtinen
Senior Vice President, Corporate Communications

For further information, please contact:
Jouni Huttunen, tel. +358 10 452 4649

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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