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FORTUM ESPOO'S RELEASE: FORTUM HOLDS 100% OF FORTUM ESPOO

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Fortum Corporation   STOCK EXCHANGE RELEASE   13 September 2006


FORTUM ESPOO'S RELEASE: FORTUM HOLDS 100% OF FORTUM ESPOO

Fortum Espoo Oyj, a subsidiary of Fortum Corporation, has today issued the stock
exchange release attached below.

Fortum Corporation
Carola Teir-Lehtinen
SVP, Corporate Communications

For more information:
SVP, Corporate Communications Carola Teir-Lehtinen, tel. +358 50 452 4118

Distribution:
Helsinki Stock Exchange
Key media


APPENDIX

FORTUM ESPOO OYJ          STOCK EXCHANGE RELEASE   13 September 2006


FORTUM HOLDS 100% OF FORTUM ESPOO

The Arbitration Court appointed by the redemption committee of the Central
Chamber of Commerce has today confirmed that Fortum Corporation (Fortum) has an
undisputed right to redeem the minority shares of Fortum Espoo Oyj (Fortum Espoo)
and that Fortum has the right to obtain the title to the minority shares by
setting a security approved by the Arbitration Court for the redemption price and
the interest payable on it.

Fortum has set the required security and has thereby today obtained the title to
the entire share capital of Fortum Espoo, as provided under the Finnish Companies
Act. After the setting of the security, Fortum Espoo's minority shareholders, who
are parties to the redemption process, are only entitled to receive the
redemption price and the interest payable on it.

The minority shareholders will later be sent further details of the decision of
the Arbitration Court and of other procedures in accordance with the instructions
provided by the Arbitration Court.

Fortum Espoo Oyj
Timo Karttinen
President and CEO

For more information:
Timo Karttinen, President and CEO, tel. +358 20 520 5800

Distribution:
Helsinki Stock Exchange
Key media

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