Fingrid Oyj - Company Announcement

Fingrid's ownership arrangements progressing

Fingrid's ownership arrangements progressing



By virtue of a preliminary agreement, Fortum is selling its shareholding

in the Finnish transmission system operator Fingrid to the State of

Finland and Mutual Pension Insurance Company Ilmarinen. Pohjolan Voima

is also negotiating the divestment of its holding in Fingrid to the

State of Finland and Ilmarinen. Fortum and Pohjolan Voima each own

approximately 25 per cent of Fingrid's shares.



After the share transaction, the holding of the State of Finland in

Fingrid would be 53.1 per cent and that of Ilmarinen 19.9 per cent. The

other shareholders, which are mainly Finnish pension insurance and

insurance companies, would have a holding of 27.5 per cent.



The ownership arrangements are caused by the EU's directive concerning

the internal electricity market. The directive requires that

transmission system companies are unbundled from electricity generating

and selling companies by March 2012.



Further information: Fingrid Oyj, Jukka Ruusunen, President & CEO, tel.

+358 (0)40 593 8428