Fortum - Company Announcement

FORTUM STARTS AN ENVIRONMENTAL IMPACT ASSESSMENT PROCESS OF A NEW NUCLEAR POWER UNIT AT LOVIISA, FINLAND

Fortum has decided to commence an environmental impact assessment (EIA) process 
at its Loviisa nuclear power plant for a new nuclear power unit possibly to be  
built adjacent to the existing two units.                                       

As stipulated in the Finnish Nuclear Energy Act, an EIA process must be carried 
out before an application for a decision-in-principle can be submitted to the   
Council of State. “With the EIA process, Fortum raises its preparedness to build
a new nuclear power unit in Loviisa. However, the company has not made any      
decisions on its intentions beyond the EIA,” says Fortum Senior Vice President  
Tapio Kuula.                                                                    

In the first phase of the EIA process, possible alternatives for carrying out   
the nuclear power project will be described. In addition, a detailed report on  
how the new unit's possible impacts on the surrounding communities, the         
environment, nature and utilisation of natural resources will be studied is     
composed.                                                                       

During the EIA process, the citizens of Loviisa and surrounding communities as  
well as other stakeholders will be provided an opportunity to express their     
opinions on the EIA and to influence how it will be carried out. Later on,      
stakeholders will have an opportunity to comment on the actual estimated        
environmental impacts.                                                          

Fortum will commence the EIA process at its Loviisa power plant in April 2007   
and estimates that the process will be completed during the fall 2008.          

Fortum Corporation                                                              

Carola Teir-Lehtinen                                                            
Senior Vice President, Corporate Communications                                 


Further information:                                                            
Tapio Kuula, Senior Vice President, Fortum Corporation,                         
tel. +358 10 4524112                                                            


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Helsinki Stock Exchange                                                         
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