Fortum - Company Announcement

Fortum, the Finnish State and Ilmarinen into a final agreement over sale of Fingrid shares

Fortum Corporation, Stock exchange release, 2011-04-19 07:24 CEST (GLOBE
NEWSWIRE) -- Fortum, the Finnish State and Ilmarinen Mutual Pension Insurance
Company have today signed a share purchase agreement according to which Fortum
sells its 25%-shareholding in the Finnish transmission system operator Fingrid
Oyj. The shares sold are Fingrid's series A shares. The State (with Ministry of
Employment and the Economy and the National Emergency Supply Agency as the
shareholders) will buy approximately 81% and Ilmarinen approximately 19% of
Fortum's Fingrid shares. The transaction has all the necessary approvals and
will be completed later today when the sales price has been fully paid in cash
and the ownership has been transferred to the new owners. 

The sales price is EUR 325 million. Consequently, Fortum expects to book a gain
of roughly EUR 200 million in its second quarter 2011 financial results
including Fortum's share of Fingrid's first quarter 2011 profit, corresponding
to approximately EUR 0.22 per share. The proceeds will be used on general
corporate purposes. 

Fortum is selling its holding in the Finnish transmission system operator
Fingrid as a result of the EU's third energy market package that calls for the
separation of high voltage transmission and power generation. The package
entered into force in September 2009 and, according to it, Fortum will have to
divest its entire ownership in Fingrid by early 2012. 

Further information on Fingrid is available at
http://www.fingrid.fi/portal/in_english/ 

Fortum Corporation
Anne Brunila
Executive Vice President, Corporate Relations and Sustainability

Further information:
Timo Karttinen, Executive Vice President, Electricity Solutions and
Distribution, 
Tel. +358 10 453 6555

Distribution:
NASDAQ OMX Helsinki
Key media
www.fortum.com