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NEWS RELEASE
November, the 26th 2010

Fortum and Rosatom sign Memorandum of Understanding
on cooperation in nuclear power

Fortum and Rosatom sign Memorandum of Understanding on cooperation in nuclear power Fortum Corporation and the Russian State Atomic Energy Corporation ROSATOM have signed a Memorandum of Understanding on cooperation in the field of nuclear power. The development of nuclear power markets offers a good opportunity to extend the long-standing cooperation between the two companies in applying their nuclear competences in future nuclear power projects.

“Cooperation with Rosatom fits very well with Fortum’s strategy in which nuclear power is one of the key elements. Projects where Rosatom is strongly involved can also bring new business opportunities to Fortum”, says Matti Ruotsala, Executive Vice President of Fortum Corporation.

Fortum has extensive experience and an excellent track record in building, operating, maintaining and upgrading nuclear power plants. Fortum also has a long history of joint-ownerships and industrial development of nuclear power in Finland and Sweden, and is internationally recognized for its expertise in nuclear safety and waste management.

The State Atomic Energy Corporation ROSATOM incorporates more than 250 enterprises and scientific institutions. The State corporation comprises enterprises covering the whole cycle of nuclear power generation – starting from uranium production up to the decommissioning of nuclear power plants. Rosatom holds leading positions in the world market of nuclear technologies being the 1st in the world in simultaneous nuclear build abroad; 2nd in uranium reserves and 5th in uranium mining; 4th in nuclear electricity generation, while providing 40% of the world uranium enrichment services and 17% of the world nuclear fuel market.

About 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 sale of electricity and heat as well as related expert services.
Fortum's operations focus on the Nordic countries, Russia and Baltic Rim area. In the future, the fast-growing, liberalizing Euro-Asian energy markets provide additional growth opportunities. In 2009, Fortum’s sales totalled EUR 5.4 billion and operating profit was EUR 1.8 billion. We employ approximately 11,000 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.

Further information:
Matti Ruotsala, Executive Vice President, Fortum, tel. +358 40 048 7052
Anne Brunila, Executive Vice President, Fortum, tel. +358 40 081 3952

www.fortum.com


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