Karttinen to Head Fortum Corporate Development

Maritime Activity Reports, Inc.

June 24, 2004

Timo Karttinen, MSc (Eng), has been appointed SVP Corporate Development and member of the Corporate Executive Committee as of July 1st, 2004. In recent years, Mr Karttinen has been in charge of Fortum's Portfolio Management and Trading Unit. His successor in this position is Mr Per Langer, MSc(Econ) and BSc(Eng), also effective on July 1st. Mr Langer is currently in charge of the optimization of Fortum's power production.
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