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The effect of Neste Oil shares distributed as a dividend on the subscription price of Fortum options

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Fortum Corporation             STOCK EXCHANGE RELEASE
                               15 April 2005             1(1)


The effect of Neste Oil shares distributed as a dividend on the subscription
price of Fortum options

In Fortum option programs, the dividend correction of the subscription price for
Neste Oil Corporation shares distributed as a dividend is calculated by dividing
the sales price of the Neste Oil Corporation share by four which results in a
decrease of 3.75  euros in the subscription price of Fortum Corporation share.

Of the option programs currently listed on the Helsinki Stock Exchange this
affects the options of Fortum Corporation's 1999 bond loan with warrants to the
employees (Fortum Corp -99 warrant FUM1VEW199) and the share options 2002A for
key employees (Fortum Corp -02A warrant FUM1VEW102), and the new subscription
price of both is the nominal value of the Fortum Corporation share, that is EUR
3.40.

The possibility to subscribe shares based on the share warrants relating to
Fortum Corporation's 1999 bond loan with warrants to the employees will end on 17
May 2005.


Fortum Corporation

Carola Teir-Lehtinen

Senior Vice President, Corporate Communications


For further information please contact:
Jouni Huttunen, tel. +358 10 452 4649

Distribution:
Helsinki Stock Exchange
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