Fortum Oyj

Share Issue/Capital Change • Nov 7, 2008

Disclosure 263947

Fortum - Corporate Action

Fortum shares subscribed for with share warrants

Fortum Corporation Stock exchange announcement 7.11.2008 at 8.45 EET Fortum shares subscribed for with share warrants The following new shares have been subscribed for with Fortum Corporation's share warrants: -------------------------------------------------------------------------------- | Name of scheme | Subscription period | Quantity | -------------------------------------------------------------------------------- | Share Option Scheme 2002B for key | 1 Oct. 2008- | 28,100 | | employees | 31 Oct. 2008 | | -------------------------------------------------------------------------------- The corresponding increase in share capital has not yet been entered in the trade register. The intention is that the next time share subscriptions related to the Fortum Share Option Scheme 2002B are registered will be approximately on 8 December 2008, when the new shares subscribed for by 28 November 2008 will be registered. Fortum Corporation Maria Romantschuk Senior Vice President, Corporate Communications Further information: Jouni Huttunen, Head of Treasury Management, +358 10 45 24649 Distribution: NASDAQ OMX Helsinki Key media www.fortum.com