Fortum's share of the bidding and engineering phase of Olkiluoto 4 nuclear unit in Finland

PRESS RELEASE 7 December 2011

The Extraordinary General Meeting of TVO (Teollisuuden Voima Oyj) has today decided to commence the bidding and engineering phase of the company's fourth nuclear unit at Olkiluoto, Finland. Fortum's stake of the costs of this stage is approximately EUR 72 million, which corresponds Fortum's approximately 26% share of TVO shares. The sum will be divided to several years.

The target of the bidding and engineering phase is to select a plant unit that meets all the latest safety requirements.

According to the decision-in-principle, ratified by the Finnish Parliament in July 2010, the application for a building permit for the Olkiluoto's fourth unit must be filed latest in June 2015.

Fortum Corporation
Corporate Communications

SEE ALSO THE PREVIOUS PRESS RELEASE:
http://www.fortum.com/en/mediaroom/Pages/fortum-participates-in-the-financing-of-the-bidding-and-engineering-phase-of-olkiluoto-4-nuclear-unit-in-finland.aspx

Fortum
Fortum's purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.

Fortum's operations focus on the Nordic countries, Russia, Poland and Baltic Rim area. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2010, Fortum’s sales totalled EUR 6.3 billion and comparable operating profit was EUR 1.8 billion. We employ approximately 10,500 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.

Further information: www.fortum.com