Fortum starts repurchase of own shares

Fortum Corporation           Stock Exchange Release May 31 2006

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