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COMPTEL CORPORATION?S APRIL-JUNE RESULT

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ELISA CORPORATION                 STOCK EXCHANGE RELEASE
                                  JULY 22, 2004 AT 9.00a.m.


COMPTEL CORPORATION’S APRIL-JUNE RESULT

Elisa Corporation's subsidiary Comptel Corporation has today
reported the following result for the period of April-June 2004:

In the second quarter of 2004 the turnover of Comptel Group
reached a good level while the profitability of the Group was
excellent. The demand for Comptel’s products developed favourably
despite the tough competition in the market. Especially towards
the end of the period Comptel was able to close significant deals.
Furthermore, license upgrades from existing customers contributed
to the revenues of the quarter.

Results of Comptel Group

Key figures (unaudited)           4-6    4-6    1-6   1-6   2003
                                 2004   2003   2004  2003
Turnover, EUR million            16.0   16.7   28.5  28.8   54.0
Operating profit, EUR million     4.7    2.0    7.4   1.7    6.6
Operating profit as per cent                                    
of turnover                      29.4   12.0   25.9   5.9   12.2
Earnings per share, EUR          0.03   0.01   0.04  0.01   0.04

Key figures at the end of          30.6.    30.6.    31.3.  2003
period                              2004     2003     2004
Order backlog EUR million           24.4     22.0     23.2  23.5
Number of employees                  418      470      404   402

The cash flow from operations in January - June was EUR 7.5
million (EUR 0.5 million) and in April - June EUR 3.8 million (EUR
0.3 million). The balance sheet total on June 30, 2004 was EUR
51.2 million (EUR 44.4 million), of which cash reserves amounted
to EUR 29.0 million (EUR 18.3 million). The equity ratio was 75.3
per cent (82.4 per cent). The Group had no interest-bearing debt
at the date of this interim report.

The share of Comptel’s product-based business of Group’s turnover
in January - June was 85.9 per cent (75.3 per cent) and in April -
June 87.3 per cent (74.3 per cent) of Group’s turnover. The share
of Comptel’s system services business of Group’s turnover in
January - June was 14.1 per cent (24.7 per cent) and in April -
June 12.7 per cent (25.7 per cent) of Group’s turnover.

Future outlook

The increasing network investments and growing interest in
developing new services are gradually becoming visible in
operators’ investment plans in software solutions. This supports
Comptel’s view for the product-based business continuing growth
prospects. Simultaneously the competition especially in the Asia
Pacific market has become tighter, which has an impact on the
price level in this particular market. The turmoil in Middle East
is a risk with potential negative impact on Comptel’s turnover.

The turnover of system services business will be lower that in
2003 mainly due to the accomplished divestment and discontinuation
of the businesses of the subsidiary company Probatus.

According to Comptel’s estimate the Group’s turnover growth in
2004 will be from 5 to 10 per cent, while the operating profit
will be over 20 per cent of the turnover.

Further information on Comptel Corporation’s result and growth
prospects are available in the company’s interim report for April
1 – June 30, 2004, disclosed today.

ELISA CORPORATION

Velipekka Nummikoski
Vice President, Corporate Communications

For further information, please contact:

Comptel Corporation
Mr Tero Laaksonen, President and CEO
Tel. +358 9 700 1131

Mr Pellervo Hämäläinen, Senior Vice President, Corporate
Communications and IR
Tel. +358 9 700 1131

Distribution:

Helsinki Exchanges
Major media

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