FINGRID GROUP'S INTERIM REPORT 1 JANUARY - 30 JUNE 2010

Fingrid Oyj / Half-yearly Results

27.08.2010 11:00

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The issuer is solely responsible for the content of this announcement.
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FINGRID OYJ  
                                                                   
Stock exchange release 27.8.2010, at 12.00 EET 
                                 
Fingrid GROUP'S INTERIM REPORT 1 JANUARY - 30 JUNE 2010  
                       
Review of operations  
                                                          
Power system operation                                                          

From April to June, 19.5 terawatt hours of electricity (17.6 TWh in the         
corresponding period in 2009) was consumed in Finland. A total of 15.6 TWh of   
electricity was transmitted in Fingrid's grid during the same period,           
representing 80 per cent of the electricity consumption in Finland. Between     
January and June, the electricity consumption in Finland totalled 44.6 TWh (41.1
TWh), up by 8.4 per cent on the corresponding period in 2009. 
                  
Until mid-May, a clear majority of the electricity transmissions between Finland
and Sweden consisted of exports from Finland. Between April and June, 0.2 TWh of
electricity was imported from Sweden to Finland (0.6 TWh), and 1.6 TWh (0.9 TWh)
was exported from Finland to Sweden. Between January and June, 0.6 TWh of       
electricity was imported from Sweden to Finland (1.0 TWh), and 3.6 TWh (2.4 TWh)
was exported from Finland to Sweden.    
                                        
Electricity transmissions between Finland and Estonia were dominated by imports 
to Finland in the early part of the year. From mid-May, the transmissions at    
night time and during weekends were mostly exports to Estonia. Between April and
June, 0.5 TWh (0.3 TWh) of electricity was imported to Finland from Estonia. A  
total of 1.2 TWh (0.9 TWh) of electricity was imported to Finland from Estonia  
from January to June.    
                                                       
The full cross-border transmission capacity from Russia was in use during the   
review period. Maintenance work at the North West Power Plant in Russia         
restricted the import capacity to Finland in April. Between April and June,     
electricity imports to Finland from Russia were 2.9 TWh (3 TWh), and between    
January and June the imports from Russia were 6.0 TWh (6.1 TWh).  
              
There were slightly more disturbances in the transmission grid in the early part
of the year than in the previous years. However, there were no serious          
disturbances during the review period.                                          

--------------------------------------------------------------------------------
| Power system operation      | 1-6/10     | 1-6/09    | 4-6/10    | 4-6/09    |
--------------------------------------------------------------------------------
| Electricity consumption in  |       44.6 |      41.1 |      19.5 |      17.6 |
| Finland TWh                 |            |           |           |           |
--------------------------------------------------------------------------------
| Fingrid's transmission      |       35.2 |      31.7 |      15.6 |      14.2 |
| volume TWh                  |            |           |           |           |
--------------------------------------------------------------------------------
| Fingrid's loss energy       |        0.6 |       0.5 |       0.2 |       0.2 |
| volume TWh                  |            |           |           |           |
--------------------------------------------------------------------------------
| Electricity transmissions   |            |           |           |           |
| Finland-Sweden              |            |           |           |           |
--------------------------------------------------------------------------------
| exports to Sweden TWh       |        3.6 |       2.4 |       1.6 |       0.9 |
--------------------------------------------------------------------------------
| imports from Sweden TWh     |        0.6 |       1.0 |       0.2 |       0.6 |
--------------------------------------------------------------------------------
| Electricity transmissions   |            |           |           |           |
| Finland-Estonia             |            |           |           |           |
--------------------------------------------------------------------------------
| exports to Estonia TWh      |          0 |         0 |         0 |       0.1 |
--------------------------------------------------------------------------------
| imports from Estonia TWh    |        1.2 |       0.9 |       0.5 |       0.3 |
--------------------------------------------------------------------------------
| Electricity transmissions   |            |           |           |           |
| Finland-Russia              |            |           |           |           |
--------------------------------------------------------------------------------
| imports from Russia TWh     |        6.0 |       6.1 |       2.9 |         3 |
--------------------------------------------------------------------------------

Promotion of electricity market                                                 

The average price (system price) in Nord Pool's spot market between April and   
June 2010 was 44.87 euros per megawatt hour (34.03 [Eur]/MWh during the           

corresponding period in 2009), and the area price for Finland was 41.71 [Eur]/MWh 

(34.32 [Eur]/MWh). Between January and June, the average price in Nord Pool's spot

market was 52.33 [Eur]/MWh (36.13 [Eur]/MWh), and the area price for Finland was
56.74
[Eur]/MWh (36.21 [Eur]/MWh).                                                      


In the first half of 2010, congestions in the transmission grid on the border   
between Finland and Sweden restricted electricity trade for 10.2 per cent of the
time (5.9 per cent). It was necessary to restrict the transmissions in the early
part of the year, because the transmission capacity was not sufficient to cover 
the extensive demand for exports from Finland to Sweden.                        

The congestion income on the border between Finland and Sweden, resulting from  
the transmission congestions, totalled 5.7 million euros (0.8 million euros)    
between January and June. The Nordic congestion income between January and June 
totalled 104.9 million euros (18.2 million euros). Most of the Nordic congestion
income was created on the borders between the bidding areas of Southern Norway  
and Denmark.                                                                    
                                                                                
Fingrid's counter trade costs between January and June were approx. 0.1 million 
euros (0.1 million euros).                                                      

The Estonian wholesale market for electricity was integrated with the Nordic    
electricity exchange at the beginning of April, and trading started off         
actively. Fingrid and its Estonian counterpart Elering rented approx. 250       
megawatts of transmission capacity from the owners of the present Estlink       
connection for use by Nord Pool Spot. The total capacity of the link is 350 MW. 

The market has primarily utilised the full transmission capacity made available 
to Elspot trading. Elering and Fingrid also decided to launch intraday trading  
between Estonia and Finland as of 3 May 2010.                                   


--------------------------------------------------------------------------------
| Electricity market         | 1-6/10   | 1-6/09    | 4-6/10     | 4-6/09      |
--------------------------------------------------------------------------------
| Nord Pool system price,    |    52.33 |     36.13 |      44.87 |       34.03 |
| average [Eur]/MWh              |          |           |            |            
|
--------------------------------------------------------------------------------
| Area price Finland,        |    56.74 |     36.21 |      41.71 |       34.32 |
| average [Eur]/MWh              |          |           |            |            
|
--------------------------------------------------------------------------------
| Congestion income in the   |    104.9 |      18.2 |       18.1 |         8.6 |
| Nordic countries million [Eur] |          |           |            |            
|
--------------------------------------------------------------------------------
| Congestion income between  |      5.7 |       0.5 |        0.8 |        0.07 |
| Finland and Sweden million |          |           |            |             |
| [Eur]                          |          |           |            |            
|
--------------------------------------------------------------------------------
| Congestion hours between   |     10.2 |       5.9 |        6.7 |         0.8 |
| Finland and Sweden %       |          |           |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Fingrid's share of the     |      6.6 |       1.3 |        0.9 |         0.6 |
| congestion income in the   |          |           |            |             |
| Nordic countries million [Eur] |          |           |            |            
|
--------------------------------------------------------------------------------

Capital expenditure and grid maintenance  
                                      
The Group's gross capital expenditure between April and June was 40.4 million   
euros (37.2 million euros during the corresponding period in 2009). Gross       
capital expenditure between January and June totalled 63.7 million euros (53.5  
million euros).   
                                                              
Fingrid's Board of Directors made a capital investment decision in May          
concerning the construction of the second direct current transmission link,     
EstLink 2, between Estonia and Finland. The capacity of the planned transmission
link is 650 megawatts and the costs of the project total approx. 320 million    
euros. The submarine cable will be built in co-operation with the Estonian      
transmission system operator Elering. The execution of the project still        
requires that the positive trend continues in the Estonian electricity market   
opened in April.  
                                                              
The environmental impact assessment programme concerning the transmission line  
project between Forssa and Lieto was completed in May. The project covers the   
replacement of the existing 110 kilovolt transmission lines with 400 and 110    
kilovolt lines. The contact authority, the Centre for Economic Development,     
Transport and the Environment in South-Western Finland, will announce the public
display of the assessment programme. In the second stage of the environmental   
impact assessment procedure, the results of the assessment work are compiled    
into an assessment report, which is expected to be ready towards the end of     
2010.  
                                                                         
In June, Fingrid was awarded the PAS 55 certificate as the first enterprise in  
the Nordic countries. As a company specialised in the safety and risk management
of companies, Lloyd's Register reviewed Fingrid's asset management operations in
the spring. According to Lloyd's Register, Fingrid's performance exceeds the    
requirements determined in the specification. 
                                  
Financial result  
                                                              
The Group's revenue between April and June was 87 million euros (68 million     
euros). The sales of balance power were 31 million euros (19 million euros) and 
purchases of balance power 26 million euros (15 million euros). The IFRS        
profit/loss before taxes was 5 million euros (-3 million euros) between April   
and June.   
                                                                    
The Group's revenue was 233 million euros (184 million euros) between January   
and June. The other operating income was 2.1 million euros (0.9 million euros).
 
Grid revenue grew from the previous year as a result of increased electricity   
consumption in the early part of 2010 and the 4.5 per cent raise in the grid    
tariff at the beginning of the year, to 112 million euros (98 million euros).   
Cross-border transmission income remained at the same level as in the previous  
year. Due to the high Nordic congestion income in the early part of the year,   
Fingrid's congestion income grew by approx. 5 million euros on the previous     
year. The sales of balance power were 79 million euros (48 million euros) and   
purchases 70 million euros (43 million euros). 
                                 
The record-high transmission losses in the Finnish grid in the early part of    
2010 together with the high area price of electricity for Finland raised        
Fingrid's loss energy costs by 9 million euros on the previous year. Both the   
maintenance management costs of the grid and the costs of the power system      
reserves were approx. 1 million euros higher than in 2009. Moreover, higher     
capital investments raised the amount of depreciation. Fingrid's portion of the 
European inter-TSO compensations decreased slightly. The costs of the peak load 
reserve system and of the feed-in tariff for peat remained at the same level as 
in 2009.                                                                        
?                                                                               
--------------------------------------------------------------------------------
| Revenue and other          | 1-6/10     | 1-6/09    | 4-6/10    | 4-6/09     |
| operating income           |            |           |           |            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Grid service revenue       | 111.6      | 98.5      | 36.8      | 32.4       |
--------------------------------------------------------------------------------
| Sales of balance power     | 79.1       | 48.1      | 30.8      | 18.6       |
--------------------------------------------------------------------------------
| Cross-border transmission  | 12.3       | 12.5      | 6.0       | 6.2        |
--------------------------------------------------------------------------------
| Nordic congestion income   | 6.6        | 1.3       | 0.9       | 0.6        |
--------------------------------------------------------------------------------
| Peak load reserve          | 8.1        | 6.4       | 3.5       | 3.1        |
--------------------------------------------------------------------------------
| ITC income                 | 9.6        | 14.1      | 6.9       | 6.3        |
--------------------------------------------------------------------------------
| Feed-in tariff for peat    | 0.4        | 0.2       | 0.3       | 0.1        |
--------------------------------------------------------------------------------
| Other revenue              | 5.0        | 2.5       | 2.4       | 1.0        |
--------------------------------------------------------------------------------
| Other operating income     | 2.1        | 0.9       | 1.5       | 0.5        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Revenue and other income   | 234.8      | 184.6     | 89.0      | 68.7       |
| total                      |            |           |           |            |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Costs                      | 1-6/10     | 1-6/09    | 4-6/10    | 4-6/09     |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Purchase of balance power  | 70.0       | 43.3      | 25.9      | 15.4       |
--------------------------------------------------------------------------------
| Purchase of loss energy    | 34.7       | 25.3      | 12.0      | 10.3       |
--------------------------------------------------------------------------------
| Depreciation               | 33.3       | 32.4      | 16.7      | 17.1       |
--------------------------------------------------------------------------------
| Reserves                   | 10.8       | 9.8       | 5.7       | 5.0        |
--------------------------------------------------------------------------------
| Peak load reserve          | 6.5        | 6.8       | 3.1       | 3.1        |
--------------------------------------------------------------------------------
| Personnel                  | 10.0       | 10.2      | 5.2       | 5.2        |
--------------------------------------------------------------------------------
| Maintenance management     | 9.1        | 7.7       | 5.4       | 4.5        |
--------------------------------------------------------------------------------
| ITC charges                | 4.4        | 8.5       | 2.3       | 4.2        |
--------------------------------------------------------------------------------
| Feed-in tariff for peat    | 0.4        | 0.1       | 0.2       | 0.0        |
--------------------------------------------------------------------------------
| Other costs                | 11.1       | 9.6       | 6.6       | 5.3        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Costs total                | 190.4      | 153.6     | 83.1      | 70.0       |
--------------------------------------------------------------------------------

The operating profit between January and June was 47 million euros (34 million  
euros), which contains 2 million euros (3 million euros) of positive change in  
the fair value of electricity derivatives. The profit before taxes was 40       
million euros (26 million euros), and the total comprehensive income was 36     
million euros (23 million euros). The equity ratio was 28.2 per cent (27.5 per  
cent) at the end of the review period.  
                                        
The Group's income flow is characterised by seasonal fluctuations, which is why 
the financial result for the entire year cannot be directly estimated on the    
basis of the six-month result.                                                  

Financing
                                                                       
The financial position of the Group continued to be satisfactory.  The company  
managed its long-term funding by issuing private placements totaling 86 million 
euros. The net financial costs of the Group between April and June were 1       
million euros (3 million euros). The net financial costs of the Group also      
decreased between January and June to 7 million euros (9 million euros).        
Financial assets recognised at fair value in the income statement, and cash and 
cash equivalents amounted to 202 million euros (207 million euros) at 30 June   
2010. The interest-bearing liabilities, including derivative liabilities,       
totalled 1030 million euros (953 million euros), of which 720 million euros (609
million euros) were long-term and 309 million euros (345 million euros) were    
short-term.  
                                                                   
The counterparty risk involved in the derivative contracts relating to financing
was 47 million euros (16 million euros).  The counterparty risk primarily       
results from the company's long-term currency swaps, where the strengthening of 
the foreign currency with respect to the euro has raised the market value of    
currency swaps concluded with counterparties. 
                                  
The company has an undrawn revolving credit facility of 250 million euros.      

Personnel
                                                                       
The total personnel of the Fingrid Group averaged 260 (249) during the review   
period.
                                                                         
Auditing 
                                                                       
The consolidated figures in this Interim Report are unaudited.                  

Outlook for the remaining part of the year  
                                    
The Commission of the European Union made a decision on 8 July 2010 concerning a
subsidy of 100 million euros for the EstLink 2 transmission link between Finland
and Estonia. The capacity of the new link costing a total of approx. 320 million
euros is 650 megawatts, and it is due to be commissioned in early 2014. The     
subsidy is part of a broader recovery package of the EU, aiming to stimulate    
economic activity in the Union and also support the EU's strategic energy policy
objectives.   
                                                                  
The international rating agency Fitch Ratings downgraded Fingrid Oyj's long-term
Issuer Default Rating (IDR) to? 'A+'. Fitch Ratings issued Fingrid Oyj's senior 
unsecured debt the rating 'AA-'. Fingrid Oyj's short-term IDR was downgraded to 
'F1'. The agency rated Fingrid Oyj's outlook to be negative. 
                   
The profit of the Fingrid Group for the entire year without the change in the   
fair value of derivatives is expected to improve from 2009.                     

Board of Directors                                                              

Appendices: Tables for the interim report 1 January - 30 June 2010 
             
Further information:                                                            
Jukka Ruusunen, President & CEO, +358 (0)30 395 5140 or                         
+358 (0)40 593 8428                                                             
Tom Pippingskold, CFO, +358 (0)30 395 5157 or 
+358 (0)40 519 5041    
                                                                        
Appendices: Tables for the Interim Report 1 January - 30 June 2010   
           
--------------------------------------------------------------------------------
| Condensed       |   2010 |  2009 | Chang |   2010 |  2009  | Change |   2009 |
| consolidated    | Jan-Ju | Jan-J |     e | Apr-Ju | Apr-Ju |        | Jan-De |
| statement of    |      n |    un |       |      n |      n |        |      c |
| comprehensive   |        |       |       |        |        |        |        |
| income, million |        |       |       |        |        |        |        |
| euros           |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
|  Revenue        |  232.7 | 183.7 |  49.1 |   87.5 |   68.2 |   19.3 |  358.9 |
--------------------------------------------------------------------------------
| Other operating |    2.1 |   0.9 |   1.1 |    1.5 |    0.5 |    1.1 |    2.2 |
| income          |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Depreciation    |  -33.3 | -32.4 |  -0.9 |  -16.7 |  -17.0 |    0.3 |  -64.6 |
| and             |        |       |       |        |        |        |        |
| amortisation    |        |       |       |        |        |        |        |
| expense         |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Operating       | -154.7 |-117.8 | -36.9 |  -66.4 |  -52.0 |  -14.4 | -245.8 |
| expenses        |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Operating       |   46.8 |  34.4 |  12.4 |    5.9 |   -0.3 |    6.3 |   50.8 |
| profit          |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Finance income  |   -7.3 |  -8.8 |   1.5 |   -1.4 |   -3.0 |    1.6 |  -17.8 |
| and costs       |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Portion of      |    0.2 |   0.2 |  -0.1 |    0.0 |    0.1 |    0.0 |    0.3 |
| profit of       |        |       |       |        |        |        |        |
| associated      |        |       |       |        |        |        |        |
| companies       |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Profit before   |   39.6 |  25.9 |  13.8 |    4.6 |   -3.2 |    7.8 |   33.2 |
| taxes           |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
|  Income taxes   |  -10.3 |  -6.7 |  -3.6 |   -1.2 |    0.8 |   -2.0 |   -8.6 |
--------------------------------------------------------------------------------
| Profit for the  |   29.4 |  19.2 |  10.2 |    3.4 |   -2.4 |    5.8 |   24.7 |
| period          |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other           |        |       |       |        |        |        |        |
| comprehensive   |        |       |       |        |        |        |        |
| income          |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Cash flow       |    6.4 |   3.2 |   3.2 |   10.9 |   13.8 |   -2.9 |   11.8 |
| hedges          |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Translation     |    0.1 |   0.2 |   0.0 |    0.0 |   -0.1 |    0.1 |    0.5 |
| reserve         |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Available-for-s |        |       |       |        |        |        |    0.0 |
| ale financial   |        |       |       |        |        |        |        |
| assets          |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Total           |   35.9 |  22.6 |  13.3 |   14.3 |   11.3 |    3.0 |   36.9 |
| comprehensive   |        |       |       |        |        |        |        |
| income for the  |        |       |       |        |        |        |        |
| year            |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit          |        |       |       |        |        |        |        |
| attributable    |        |       |       |        |        |        |        |
| to:             |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Equity holders  |   29.4 |  19.2 |  10.2 |    3.4 |   -2.4 |    5.8 |   24.7 |
| of the company  |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Total           |        |       |       |        |        |        |        |
| comprehensive   |        |       |       |        |        |        |        |
| income          |        |       |       |        |        |        |        |
| attributable    |        |       |       |        |        |        |        |
| to:             |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Equity holders  |   35.9 |  22.6 |  13.3 |   14.3 |   11.3 |    3.0 |   36.9 |
| of  the company |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per    |  8 832 | 5 774 | 3 059 |  1 014 |   -718 |  1 732 |  7 417 |
| share (euros)*  |        |       |       |        |        |        |        |
| belonging to    |        |       |       |        |        |        |        |
| the owners of   |        |       |       |        |        |        |        |
| the parent      |        |       |       |        |        |        |        |
| company,        |        |       |       |        |        |        |        |
| calculated from |        |       |       |        |        |        |        |
| profit          |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| * no dilution   |        |       |       |        |        |        |        |
| effect          |        |       |       |        |        |        |        |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Condensed consolidated balance   |     2010 |     2009 |   Change |     2009 |
| sheet, million euros             |   30 Jun |   30 Jun |          |   31 Dec |
--------------------------------------------------------------------------------
|  ASSETS                          |          |          |          |          |
--------------------------------------------------------------------------------
|  Non-current assets              |          |          |          |          |
--------------------------------------------------------------------------------
|   Goodwill                       |     87.9 |     87.9 |      0.0 |     87.9 |
--------------------------------------------------------------------------------
|   Intangible assets              |     89.7 |     85.0 |      4.6 |     88.0 |
--------------------------------------------------------------------------------
|   Property, plant and equipment  |  1 210.0 |  1 134.7 |     75.3 |  1 181.1 |
--------------------------------------------------------------------------------
|   Investments                    |      7.7 |      7.1 |      0.7 |      7.4 |
--------------------------------------------------------------------------------
|   Receivables                    |     48.0 |     18.8 |     29.2 |     18.5 |
--------------------------------------------------------------------------------
|  Current assets                  |          |          |          |          |
--------------------------------------------------------------------------------
|   Inventories                    |      5.5 |      5.4 |      0.1 |      5.4 |
--------------------------------------------------------------------------------
|   Receivables                    |     42.7 |     32.8 |      9.9 |     56.3 |
--------------------------------------------------------------------------------
| Financial assets recognised in   |    201.0 |    206.5 |     -5.5 |    199.8 |
| income statement at              |          |          |          |          |
|   fair                           |          |          |          |          |
| value                            |          |          |          |          |
--------------------------------------------------------------------------------
|   Cash and cash equivalents      |      1.3 |      0.5 |      0.8 |      4.1 |
--------------------------------------------------------------------------------
|  Total assets                    |  1 693.9 |  1 578.9 |    115.1 |  1 648.6 |
--------------------------------------------------------------------------------
| SHAREHOLDERS' EQUITY AND         |          |          |          |          |
| LIABILITIES                      |          |          |          |          |
--------------------------------------------------------------------------------
| Shareholders' equity belonging   |          |          |          |          |
| to the owners of the             |          |          |          |          |
|  parent                          |          |          |          |          |
| company                          |          |          |          |          |
--------------------------------------------------------------------------------
|  Shareholders' equity            |    477.0 |    433.5 |     43.5 |    447.8 |
--------------------------------------------------------------------------------
|  Non-current liabilities         |          |          |          |          |
--------------------------------------------------------------------------------
| Non-current interest-bearing     |    720.4 |    608.6 |    111.8 |    685.4 |
| liabilities                      |          |          |          |          |
--------------------------------------------------------------------------------
|   Other non-current liabilities  |    144.2 |    147.9 |     -3.7 |    141.5 |
--------------------------------------------------------------------------------
|  Current liabilities             |          |          |          |          |
--------------------------------------------------------------------------------
| Current interest-bearing         |    309.1 |    344.6 |    -35.5 |    316.0 |
| liabilities                      |          |          |          |          |
--------------------------------------------------------------------------------
|   Trade and other payables       |     43.3 |     44.2 |     -0.9 |     57.9 |
--------------------------------------------------------------------------------
| Total shareholders' equity and   |  1 693.9 |  1 578.9 |    115.1 |  1 648.6 |
| liabilities                      |          |          |          |          |
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
| Key indicators, million euros       |     2010  |      2009  |          2009 |
|                                     |  Jan -Jun |  Jan - Jun |     Jan - Dec |
--------------------------------------------------------------------------------
|  Revenue                            |     232.7 |      183.7 |         358.9 |
--------------------------------------------------------------------------------
|  Capital expenditure, gross         |      63.7 |       53.5 |         135.6 |
--------------------------------------------------------------------------------
|   - % of revenue                    |      27.4 |       29.1 |          37.8 |
--------------------------------------------------------------------------------
|  Research and development expenses  |       0.6 |        0.5 |           1.3 |
--------------------------------------------------------------------------------
|   - % of revenue                    |       0.3 |        0.3 |           0.4 |
--------------------------------------------------------------------------------
|  Personnel, average                 |       260 |        249 |           251 |
--------------------------------------------------------------------------------
|  Operating profit                   |      46.8 |       34.4 |          50.8 |
--------------------------------------------------------------------------------
|  - % of revenue                     |      20.1 |       18.7 |          14.1 |
--------------------------------------------------------------------------------
|  Profit before taxes                |      39.6 |       25.9 |          33.2 |
--------------------------------------------------------------------------------
|   - % of revenue                    |      17.0 |       14.1 |           9.3 |
--------------------------------------------------------------------------------
|  Interest bearing liabilities, net* |     827.2 |      746.3 |         797.5 |
--------------------------------------------------------------------------------
|  Equity ratio, %*                   |      28.2 |       27.5 |          27.2 |
--------------------------------------------------------------------------------
| Shareholders' equity, million       |     477.0 |      433.5 |         447.8 |
| euros*                              |           |            |               |
--------------------------------------------------------------------------------
|  Equity per share, euros*           |   143 450 |    130 370 |       134 676 |
--------------------------------------------------------------------------------
|  Earnings per share, euros*         |     8 832 |      5 774 |         7 417 |
--------------------------------------------------------------------------------
| * end of period                     |           |            |               |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Consolidated         |        |        |        |         |        |         |
| statement of changes |        |        |        |         |        |         |
| in total equity,     |        |        |        |         |        |         |
| million euros        |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Attributable to      |  Share |  Share | Revalu | Transla | Retain |   Total |
| equity holders of    | capita | premiu | a-tion |    tion |     ed |  equity |
| the parent company   |      l |      m | reserv | reserve | earnin |         |
|                      |        | accoun |      e |         |     gs |         |
|                      |        |      t |        |         |        |         |
--------------------------------------------------------------------------------
| Capital and reserves |   55.9 |   55.9 |  -23.2 |    -0.4 |  329.3 |   417.6 |
|  1 Jan 2009          |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Comprehensive income |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Profit or loss       |        |        |        |         |   19.2 |    19.2 |
--------------------------------------------------------------------------------
| Other comprehensive  |        |        |        |         |        |         |
| income               |        |        |        |         |        |         |
--------------------------------------------------------------------------------
|  Cash flow hedges    |        |        |    3.2 |         |        |     3.2 |
--------------------------------------------------------------------------------
|  Translation reserve |        |        |        |     0.2 |        |     0.2 |
--------------------------------------------------------------------------------
| Total other          |        |        |    3.2 |     0.2 |        |     3.4 |
| comprehensive income |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Total comprehensive  |        |        |    3.2 |     0.2 |   19.2 |    22.6 |
| income               |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Transactions with    |        |        |        |         |        |         |
| owners               |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Dividends relating   |        |        |        |         |   -6.7 |    -6.7 |
| to 2008              |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Capital and reserves |   55.9 |   55.9 |  -20.0 |    -0.2 |  341.8 |   433.5 |
|  30 Jun 2009         |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Comprehensive income |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Profit or loss       |        |        |        |         |    5.5 |     5.5 |
--------------------------------------------------------------------------------
| Other comprehensive  |        |        |        |         |        |         |
| income               |        |        |        |         |        |         |
--------------------------------------------------------------------------------
|  Cash flow hedges    |        |        |    8.6 |         |        |     8.6 |
--------------------------------------------------------------------------------
|  Translation reserve |        |        |        |     0.3 |        |     0.3 |
--------------------------------------------------------------------------------
| Available-for-sale   |        |        |    0.0 |         |        |     0.0 |
| financial assets     |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Total other          |        |        |    8.6 |     0.3 |        |     8.9 |
| comprehensive income |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Total comprehensive  |        |        |    8.6 |     0.3 |    5.5 |    14.3 |
| income               |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Capital and reserves |   55.9 |   55.9 |  -11.4 |     0.1 |  347.3 |   447.8 |
| 1 Jan 2010           |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Comprehensive income |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Profit or loss       |        |        |        |         |   29.4 |    29.4 |
--------------------------------------------------------------------------------
| Other comprehensive  |        |        |        |         |        |         |
| income               |        |        |        |         |        |         |
--------------------------------------------------------------------------------
|  Cash flow hedges    |        |        |    6.4 |         |        |     6.4 |
--------------------------------------------------------------------------------
|  Translation reserve |        |        |        |     0.1 |        |     0.1 |
--------------------------------------------------------------------------------
| Total other          |        |        |    6.4 |     0.1 |        |     6.5 |
| comprehensive income |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Total comprehensive  |        |        |    6.4 |     0.1 |   29.4 |    35.9 |
| income               |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Transactions with    |        |        |        |         |        |         |
| owners               |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Dividends relating   |        |        |        |         |   -6.7 |    -6.7 |
| to 2009              |        |        |        |         |        |         |
--------------------------------------------------------------------------------
| Capital and reserves |   55.9 |   55.9 |   -5.0 |     0.2 |  369.9 |   477.0 |
| 30 Jun 2010          |        |        |        |         |        |         |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Condensed consolidated cash flow statement, |    2010  |    2009 |      2009 |
| million euros                               |  Jan-Jun | Jan-Jun |   Jan-Dec |
--------------------------------------------------------------------------------
|  Cash flow from operating activities        |          |         |           |
--------------------------------------------------------------------------------
|  Profit for the financial year              |     29.4 |    19.2 |      24.7 |
--------------------------------------------------------------------------------
|  Adjustments                                |     47.9 |    44.4 |      89.2 |
--------------------------------------------------------------------------------
|  Changes in working capital                 |      3.7 |     7.2 |      -5.5 |
--------------------------------------------------------------------------------
| Impact of changes in fair value of          |     -0.2 |    -1.9 |      -3.1 |
| investments                                 |          |         |           |
--------------------------------------------------------------------------------
|  Interests paid                             |    -10.2 |   -30.0 |     -41.5 |
--------------------------------------------------------------------------------
|  Interests received                         |      1.1 |     4.8 |       4.9 |
--------------------------------------------------------------------------------
|  Taxes paid                                 |     -1.0 |    -0.6 |      -2.0 |
--------------------------------------------------------------------------------
|  Net cash flow from operating activities    |     70.7 |    42.9 |      66.8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|  Cash flow from investing activities        |          |         |           |
--------------------------------------------------------------------------------
|  Purchase of property, plant and equipment  |    -65.5 |   -54.4 |    -127.6 |
--------------------------------------------------------------------------------
|  Purchase of intangible assets              |     -3.0 |    -2.2 |      -6.9 |
--------------------------------------------------------------------------------
|  Purchase of other assets                   |      0.0 |         |       0.0 |
--------------------------------------------------------------------------------
| Proceeds  from sale of property, plant and  |      0.9 |     0.0 |       0.1 |
| equipment                                   |          |         |           |
--------------------------------------------------------------------------------
|  Dividends received                         |      0.0 |     0.0 |       0.0 |
--------------------------------------------------------------------------------
|  Net cash flow from investing activities    |    -67.6 |   -56.6 |    -134.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|  Cash flow from financing activities        |          |         |           |
--------------------------------------------------------------------------------
|  Withdrawal of loans                        |    226.7 |   185.3 |     365.4 |
--------------------------------------------------------------------------------
|  Repayment of loans                         |   -224.6 |  -164.0 |    -293.4 |
--------------------------------------------------------------------------------
|  Dividends paid                             |     -6.7 |    -6.7 |      -6.7 |
--------------------------------------------------------------------------------
|  Net cash flow from financing activities    |     -4.6 |    14.5 |      65.3 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|  Net change in cash and cash equivalents    |     -1.5 |     0.9 |      -2.3 |
--------------------------------------------------------------------------------
|  Cash and cash equivalents 1 Jan            |    203.9 |   206.1 |     206.1 |
--------------------------------------------------------------------------------
|  Cash and cash equivalents 30 Jun           |    202.3 |   207.0 |     203.9 |
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
| Derivative            |   30 Jun 2010   |   30 Jun 2009   |   31 Dec 2009    |
| agreements, million   |                 |                 |                  |
| euros                 |                 |                 |                  |
--------------------------------------------------------------------------------
|                       |    Net | Notion |    Net | Notion |     Net | Notion |
|                       |   fair |     al |   fair |     al |    fair |     al |
|                       |  value |  value |  value |  value |   value |  value |
--------------------------------------------------------------------------------
| Interest and currency |        |        |        |        |         |        |
| derivatives           |        |        |        |        |         |        |
--------------------------------------------------------------------------------
|  Cross-currency swaps |     39 |    439 |    -19 |    341 |      -1 |    400 |
--------------------------------------------------------------------------------
|  Forward contracts    |      0 |      4 |     -1 |     27 |       0 |     14 |
--------------------------------------------------------------------------------
|  Interest rate swaps  |      0 |    211 |      0 |    159 |       0 |    191 |
--------------------------------------------------------------------------------
|  Call options, bought |      6 |    740 |     10 |    740 |      11 |    750 |
--------------------------------------------------------------------------------
|  Total                |     46 |  1 394 |     -9 |  1 267 |      10 |  1 355 |
--------------------------------------------------------------------------------
|                       |    Net | Volume |    Net | Volume |     Net | Volume |
|                       |   fair |    TWh |   fair |    TWh |    fair |    TWh |
|                       |  value |        |  value |        |   value |        |
--------------------------------------------------------------------------------
| Electricity           |        |        |        |        |         |        |
| derivatives           |        |        |        |        |         |        |
--------------------------------------------------------------------------------
| Electricity forward   |     -7 |   3.53 |    -27 |   3.51 |     -18 |   3.61 |
| contracts, Nord Pool  |        |        |        |        |         |        |
| Clearing designated   |        |        |        |        |         |        |
| as hedge accounting   |        |        |        |        |         |        |
--------------------------------------------------------------------------------
| Electricity forward   |      0 |  -0.01 |      0 |  -0.01 |       0 |   0.02 |
| contracts, Nord Pool  |        |        |        |        |         |        |
| Clearing              |        |        |        |        |         |        |
--------------------------------------------------------------------------------
| Forward contracts of  |        |        |      0 |   0.05 |       0 |   0.02 |
| electricity, others   |        |        |        |        |         |        |
--------------------------------------------------------------------------------
|  Total                |     -7 |   3.52 |    -28 |   3.56 |     -18 |   3.65 |
--------------------------------------------------------------------------------




--------------------------------------------------------------------------------
| Commitments and          |    30 Jun 2010 |    30 Jun 2009 |     31 Dec 2009 |
| contingencies, million   |                |                |                 |
| euros                    |                |                |                 |
--------------------------------------------------------------------------------
|  Pledges / bank balances |              0 |              0 |               1 |
--------------------------------------------------------------------------------
|  Rental liabilities      |              7 |              9 |               8 |
--------------------------------------------------------------------------------
| Commitment fee of        |              0 |              0 |               0 |
| revolving credit         |                |                |                 |
| facility                 |                |                |                 |
--------------------------------------------------------------------------------
|  Total                   |              7 |              9 |               9 |
--------------------------------------------------------------------------------
|  Capital commitments     |            224 |            238 |             177 |
--------------------------------------------------------------------------------
| Other financial          |              2 |              2 |               2 |
| liabilities              |                |                |                 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Changes in property,     |    30 Jun 2010 |    30 Jun 2009 |     31 Dec 2009 |
| plant and equipment,     |                |                |                 |
| million euros            |                |                |                 |
--------------------------------------------------------------------------------
| Carrying amount at       |          1 181 |          1 113 |           1 113 |
| beginning of period      |                |                |                 |
--------------------------------------------------------------------------------
|  Increases               |            60  |             52 |             129 |
--------------------------------------------------------------------------------
|  Decreases               |              0 |              0 |               0 |
--------------------------------------------------------------------------------
| Depreciation and         |            -32 |            -30 |             -61 |
| amortisation expense     |                |                |                 |
--------------------------------------------------------------------------------
| Carrying amount at end   |          1 210 |          1 135 |           1 181 |
| of period                |                |                |                 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Related party            |    30 Jun 2010 |    30 Jun 2009 |     31 Dec 2009 |
| transactions and         |                |                |                 |
| balances, million euros  |                |                |                 |
--------------------------------------------------------------------------------
| Sales                    |             61 |             48 |              91 |
--------------------------------------------------------------------------------
|  Purchases               |             75 |             50 |             102 |
--------------------------------------------------------------------------------
|  Receivables             |              4 |              5 |               9 |
--------------------------------------------------------------------------------
|  Liabilities             |              1 |              1 |               1 |
--------------------------------------------------------------------------------

Accounting principles. This interim report has been drawn up in accordance with 
standard IAS 34,  Interim Financial Reporting. In this interim report, Fingrid  
has followed the same principles as in the annual financial statements for 2009.

Segment reporting. The entire business of the Fingrid Group is deemed to        
comprise transmission system operation in Finland  with system responsibility,  
only constituting a single segment. There are no essential differences in the   
risks and profitability of individual products and services. This is why segment
reporting in accordance with the IFRS 8 standard is not presented.              
							                                                                         
Corporate rearrangements. There have been no changes in the Group structure     
during the period reviewed.                                                     

Seasonal fluctuation. The Group's operations are characterised by extensive     
seasonal fluctuations.                                                          

General clause. Certain statements in this release concern the future and are   
based on the present views of management. Due to their nature, they contain some
risk and uncertainty and are subject to changes in economy and the relevant     
business.

News Source: NASDAQ OMX



27.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:           English
Company:            Fingrid Oyj
                    
                     
                    FI
Phone:              
Fax:                
E-mail:             
Internet:           
ISIN:               XS0113638653
Category Code:      IR
LSE Ticker:         BR96
Sequence Number:    559
Time of Receipt:    Aug 27, 2010 11:00:02
 
End of News                                     DGAP News-Service
 
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