Wärtsilä Corporation STOCK EXCHANGE ANNOUNCEMENT 15 March 2007 at 2.45 pm local time SHARE SUBSCRIPTIONS UNDER WÄRTSILÄ CORPORATION'S 2001 AND 2002 OPTION SCHEMES Subscription of shares under Wärtsilä's 2001 option scheme began on 1 April 2003. Altogether 72,770 options were exercised between 1 December 2006 and 6 March 2007, in accordance with the terms of the scheme, entitling subscription of 109,155 Wärtsilä B shares. The increase in share capital resulting from these subscriptions totals EUR 382,042.50. Under the terms of the 2002 option scheme the share subscription period began on 1 April 2004. Altogether 26,060 options were exercised between 1 December 2006 and 6 March 2007, in accordance with the terms of the scheme, entitling subscription of 39,090 Wärtsilä B shares. The increase in share capital resulting from these subscriptions totals EUR 136,815.00. The total increase in the company's share capital is EUR 518,857.50, after which the share capital amounts to EUR 334,959,089.50 and the total number of shares to 95,702,597 divided into 23,579,587 Series A shares and 72,123,010 Series B shares. The company will register the increase in share capital in the Trade Register. A total of 3,151,980 shares, representing 3.4 % of the total share capital, have been subscribed during the subscription period of the 2001 and 2002 option schemes. Altogether 298,020 shares, representing 0.3 % of the share capital, remain unsubscribed. www.wartsila.com