*FORTUM CORPORATION: - SHARES SUBSCRIBED

HEX HELSINKI     SECURITIES EXCHANGE   RELEASE 45/2004
                 SHARES                12 February 2004

FORTUM CORPORATION: - SHARES SUBSCRIBED WITH OPTION RIGHTS

A total of 981 004 Fortum Corporation's shares have been
subscribed with the Fortum Corporation's 1999 option rights.
The shares will be traded on the Helsinki Exchanges as old
shares as of 13 February 2004.

Identifiers of Fortum Corporation's share:

Trading code:                       FUM1V
ISIN code:                          FI0009007132
Number of shares:                   849 813 479


HELSINKI EXCHANGES
Mikko Timonen

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. www.fortum.com

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