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MATTI VUORIA TO BECOME CEO OF VARMA-SAMP

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Fortum Corporation    STOCK EXCHANGE RELEASE
                      16 June 2003 at 10.30 a.m.     1 (1)
                      






MATTI VUORIA TO BECOME CEO OF VARMA-SAMPO AS OF JUNE 1ST,2004


The Chairman of Fortum Oyj, Mr Matti Vuoria, has today been
appointed President and CEO of Varma-Sampo, a major Finnish mutual
pension insurance company, as of June 1st, 2004.

Matti Vuoria will continue as Fortum´s Executive Chairman until
the end of this year.

The members of Fortum´s Board of Directors are appointed for a
period of one calendar year.




Fortum Corporation
Carola Teir-Lehtinen
Senior Vice President, Corporate Communications


Distribution:
Helsinki Exchanges
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