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Announcement regarding emerging of consolidation relationship, redemption

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Fortum Corporation           STOCK EXCHANGE RELEASE 26 June 2006


Announcement  regarding  emerging  of   consolidation   relationship,   redemption
obligation under the securities markets act and  right  of  redemption  under  the
companies act

Fortum has today effected trades in shares of E.ON Finland Oyj  with  E.ON  Nordic
AB and the City of Espoo and now holds  a  total  of  15,598,424  shares  in  E.ON
Finland. By the acquisition of these shares Fortum receives a total of 99.8  %  of
E.ON Finland's shares at a total purchase price of approximately EUR 750 million.

In connection with the transaction,  Fortum  and  E.ON  Nordic  have  settled  all
related outstanding open issues between E.ON and Fortum. As a consequence,  Fortum
has paid E.ON a total compensation of EUR  16  million.  In  connection  with  the
transaction between the City of Espoo and Fortum,  Fortum  has,  again,  paid  EUR
1,914,576 as an interest for the purchase price.

The trades effectuated today mean that Fortum has become  the  parent  company  of
E.ON Finland.

Fortum has become liable to make a mandatory redemption offer  under  the  Chapter
6, Section 6 of the Securities Markets Act to other shareholders in E.ON  Finland.
Fortum will publish the mandatory redemption offer on or about 30 June 2006.

Further, Fortum is entitled to redeem the remaining  shares  of  E.ON  Finland  in
accordance with the Chapter 14, Section 19 of the Companies Act. Fortum  will  use
the aforementioned redemption right and present a redemption claim  to  the  Board
of Directors of E.ON Finland on or about 28 June 2006.

Fortum will apply for the delisting  of  the  shares  in  E.ON  Finland  when  the
ownership of all shares in the company has been transferred  to  Fortum.  This  is
estimated to take place during autumn 2006.

Fortum Corporation
Carola Teir-Lehtinen
SVP, Corporate Communications


For more information:
SVP, Corporate Communications Carola Teir-Lehtinen, tel. +358 50 542 4118
CFO Juha Laaksonen, tel. +358 50 452 4519

Distribution:
E.ON Finland Oyj
Helsinki Stock Exchange
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