Fortum starts repurchase of own shares

Fortum Corporation's Annual General Meeting on March 16 2006 authorised the Board of Directors to decide on repurchasing the company’s own shares. The Board of Directors has decided to start the repurchasing as of June 8 at the earliest and the repurchasing will continue until further notice. The shares will be repurchased in order to develop the capital structure of the company. The maximum amount of shares is 35 million and the amount of funds used for the repurchases may not exceed EUR 500 million. The shares will be repurchased through public trading of the securities on the Helsinki Stock Exchange at the market price of the shares at the time of the repurchase. Shares repurchased by the company shall be cancelled either by decreasing the share capital through a decision made by a General Meeting of Shareholders or without decreasing the share capital through a decision of the Board of Directors, provided that under the new Companies Act proposed to enter into force in September 2006, the Board of Directors is entitled to cancellation. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications For more information: Jouni Huttunen, Head of Treasury Management, Fortum Corporation, +358 50 452 4649