Fortum Oyj

Share Issue/Capital Change • Apr 10, 2007

Disclosure 216445

Fortum - Corporate Action

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 2001A for key | 15 March - | 6,820 | | employees | 31 March | | | | 2007 | | -------------------------------------------------------------------------------- | Share Option Scheme 2001B for key | 15 March - | 25,000 | | employees | 31 March | | | | 2007 | | -------------------------------------------------------------------------------- | Share Option Scheme 2002A for key | 15 March - | - | | employees | 31 March | | | | 2007 | | -------------------------------------------------------------------------------- | Share Option Scheme 2002B for key | 15 March - | - | | employees | 31 March | | | | 2007 | | -------------------------------------------------------------------------------- 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 Fortum share option schemes are registered will be approximately on 9 May 2007, when the new shares subscribed for by 30 April 2007 will be registered. The subscription period of share option schemes 2001A, 2001B and 2002A will also end on 30 April 2007. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications Distribution: Helsinki Stock Exchange Key media www.fortum.com