Fingrid Oyj - Company Announcement

Fingrid's ownership rearrangements brought to conclusion

Helsinki, Finland, 2011-04-19 11:00 CEST (GLOBE NEWSWIRE) -- Fingrid Oyj

Stock exchange release 19 April 2011 at 12.00 EET



Fingrid's ownership rearrangements brought to conclusion



The ownership rearrangements of Fingrid Oyj, the electricity transmission
system operator in Finland, have been brought to conclusion. Pohjolan Voima Oy
and Fortum Power and Heat Oy have divested their holding in Fingrid to the
State of Finland and Mutual Pension Insurance Company Ilmarinen. The ownership
arrangements are based on 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. 

The State of Finland acquired approx. 81 per cent and Ilmarinen approx. 19 per
cent of the shares held previously by Fortum and Pohjolan Voima. After the
share transaction, the holding of the State of Finland in Fingrid is approx. 
53 per cent and that of Ilmarinen approx. 20 per cent. The other shareholders,
which are mainly Finnish pension insurance and insurance companies, have a
holding of approx. 27 per cent. 

Fingrid Oyj owns the Finnish electricity transmission grid and all significant
cross-border transmission connections. The transmission grid is the
high-voltage trunk network which covers the entire Finland. Major power plants,
industrial plants and regional electricity distribution networks are connected
to the grid. The transmission grid encompasses a total of approx. 14,000
kilometres of transmission lines and more than 100 substations. 



Further information:
Fingrid Oyj, Jukka Ruusunen, President & CEO, tel. +358 40 593 8428