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A LETTER OF INTENT TO CONCENTRATE ELISA'S APPLICATION MANAGEMENT SERVICES TO IBM

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ELISA CORPORATION    PRESS RELEASE       18 January 2005 at 9.30 am


A LETTER OF INTENT TO CONCENTRATE ELISA'S APPLICATION MANAGEMENT SERVICES TO IBM

On 18 January 2005, Elisa Corporation and IBM signed a letter of intent to
concentrate Elisa's application management services to IBM. According to the
agreement, the employees responsible for the development and maintenance of
Elisa's information systems will join IBM, and the responsibility for
administering Elisa's present providers of application management will be
assigned to IBM.

The seven-year agreement is scheduled to come into force on 1 March 2005. On the
same date, 150 Elisa employees will join IBM as established employees. The value
of the agreement will not be disclosed.

"Elisa has selected a partner whose core business includes the provision of
application management services. In association with IBM we are in prime position
to develop our information systems to comply with our business objectives. Thanks
to efficient IBM processes, we will be able to reduce the overall costs of
Elisa's application management services," says Pauli Ukkonen, Chief Information
Officer at Elisa. "This reorganisation does not require any measures from our
customers, and the services will function as previously."

"This agreement extends our long-term cooperation substantially. IBM's
international expertise of the sector and the derived operational models for
application management will assist Elisa in enhancing both the information
systems and their usage," says Director Pekka Leppänen at IBM.

The agreement requires an approval by the competition authorities.

ELISA CORPORATION

Velipekka Nummikoski

Vice-President, Corporate Communications


Further information:

Elisa Corporation
Pauli Ukkonen, Chief Information Officer, tel. +358 50 66856
Juha Wilkman, Development Manager. tel. +358 50 3314743

Distribution:
Helsinki Stock Exchange
Major media

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