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COMPTEL CORPORATION?S FINANCIAL STATEMEN

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ELISA COMMUNICATIONS CORPORATION    STOCK EXCHANGE RELEASE
                                    FEBRUARY 14, 2003 AT 9.00am


COMPTEL CORPORATION’S FINANCIAL STATEMENTS FOR YEAR 2002

Comptel Corporation, an Elisa Communications Corporation
subsidiary, maintained a relatively good market position despite a
decrease in turnover of 15.3%, Comptel. The sale of new licences
on the regressive market decreased, while the sale of services
remained nearly at the previous level. As a result, the product
business order book decreased to EUR 16.9 million (pro forma EUR
18.4 million in 2001).

Comptel continued developing and expanding its product offering,
subsequently succeeding in winning orders outside the traditional
range of teleoperator customers - i.e. from closed network service
operators.

Measured by the EBITDA (excluding non-recurring items), Comptel
achieved a positive result, even though the company lowered its
estimate of the 2002 turnover in September as a result of the
rapidly materialising market downturn and started to reorganise
its cost structure in order to secure long-range growth and
profitability.

The realised turnover was EUR 49.3 million, with the previous
estimate exceeding EUR 50.0 million and the realised pro forma of
the previous year EUR 58.2 million. The turnover of product
business was EUR 38.4 million (pro forma EUR 44.8 million) and its
share of the turnover amounted to 77.9 per cent (pro forma 76.9%).

Export was EUR 31.9 million (pro forma EUR 39.0 million) and its
share of group turnover amounted to 64.7 per cent (pro forma
67.0%). Exports through partners accounted for 42.6 per cent (42.6
%) of the company’s total exports.

The loss for the financial period was EUR 1.9 million (pro forma
profit EUR 7.3 million). The impact of implemented cost savings
(EUR 6 million), however, is estimated to be sufficient to render
the company a profitable result for 2003, even in an unchanged
market.

The Group’s operating loss was EUR 6.6 million (pro forma profit
EUR 10.9 million), which is -13.5 per cent (pro forma 18.7 %) of
turnover.

In the company’s view, 2003 will be another challenging year in
telecommunications. Most operators will focus on improving cost-
efficiency rather than new investments. Comptel’s products are the
solution in many of these cases.

Turnover is not expected to change significantly from last years
turnover. Growth potential is particularly good in the South
America. Also in Middle East Comptel’s foothold has grown. Demand
in Comptel’s traditional markets is expected to remain at the
lower levels experienced in 2002. The turnover for the first
quarter of 2003 is estimated to be somewhat lower than the
corresponding period last year.

The company aim is to achieve a profitable result for the year
2003.

Further information on Comptel Corporation’s financial statements
are available in the company’s financial statements for January 1
– December 31, 2002, disclosed today.


ELISA COMMUNICATIONS CORPORATION

Jyrki Antikainen
Vice President, Corporate Communications

For further information, please contact:

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

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Helsinki Exchanges
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