Final results of Fortum's MTO to TGC-10 minorities available end of October

Fortum Corporation                                                              
Stock exchange release                                                          
15.10.2008 at 09.00 EET                                                         

Final results of Fortum's MTO to TGC-10 minorities available end of October     

In April 2008, Fortum made a mandatory public tender offer (MTO) for the entire 
share capital of Territorial Generating Company No. 10 (TGC-10) to TGC-10       
minorities. At the end of September, Fortum's ownership in TGC-10 was over 93%  
including shares owned by TGC-10's fully-owned subsidiary. By that time Fortum  
had paid EUR 440 million for share purchases under the MTO. Clearing of the     
share transactions is still ongoing and the final results of the MTO will be    
known and published at the latest at the end of October 2008 when Fortum will   
have to submit the final report on the results to the Russian regulators.       

In the event that Fortum's shareholding in TGC-10 exceeds 95% as a result of the
MTO Fortum may redeem the remaining shares in TGC-10. The redemption of         
remaining shares is, however, subject to decision by Russian authorities.       

Fortum Corporation                                                              
Maria Romantschuk                                                               
Senior Vice President, Communications                                           

Further information:                                                            
Kari Kautinen, Vice President, M&A, Fortum Corporation,                         
+358 10 453 2174                                                                

NASDAQ OMX Helsinki                                                             
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 9,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. In 2017, our sales were EUR 4.5 billion. Fortum's share is listed on Nasdaq Helsinki.