Fortum - Company Announcement

Fortum settles with contractor on Nyagan power plant in Russia

Espoo, Finland, 2013-11-01 07:00 CET (GLOBE NEWSWIRE) -- FORTUM CORPORATION
STOCK EXCHANGE RELEASE, 01 NOVEMBER 2013 AT 08.00 EET 

Fortum and its project contractor E4 Group have reached a final settlement
regarding claims and other matters in Fortum's Nyagan power plant construction
project on 31 October 2013. Outstanding receivables and payables resulting from
the relationship will be offset. As a result, Fortum will book a positive
effect of RUB 1.7 billion (approximately EUR 38 million) in its Russia
Division's comparable operating profit in the last quarter of 2013. 

The gas-fired thermal power plant, which is under construction in Nyagan,
Western Siberia, represents the largest part of Fortum's extensive investment
programme in Russia. Once completed, the Nyagan power plant will comprise three
418-megawatt units each. The first of these units, Nyagan 1, was commissioned
on 1 April 2013 and is among the most energy-efficient power plant units in
Russia. Nyagan 2 is currently undergoing final stages of testing  and is
expected to be commissioned by the end of 2013. The last unit, Nyagan 3, is
planned to be finalised at the end of 2014. 


Fortum Corporation
Helena Aatinen
Senior Vice President, Corporate Communications

For additional information, please contact
Markus Rauramo, CFO, tel. +358 104 521 909

Distribution:
NASDAQ OMX Helsinki
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www.fortum.com

Fortum

Fortum's purpose is to create energy that improves life for present and future
generations. We provide sustainable solutions that fulfil the needs for low
emissions, resource efficiency and energy security, and deliver excellent value
to our shareholders. Our activities cover the generation, distribution and
sales of electricity and heat as well as related expert services. 

Fortum's operations focus on the Nordic countries, Russia, Poland and the
Baltics. In the future, the integrating European and fast-growing Asian energy
markets provide additional growth opportunities. In 2012, Fortum's sales
totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion.
We employ approximately 10,400 people. Fortum's shares are quoted on NASDAQ OMX
Helsinki.