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ELISA AND SAUNALAHTI COLLABORATION PROCEEDS

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ELISA CORPORATION STOCK EXCHANGE ANNOUNCEMENT 28 NOVEMBER 2005 AT 8.30am


ELISA AND SAUNALAHTI COLLABORATION PROCEEDS

The collaboration between Elisa and Saunalahti proceeds. Elisa's Executive Board
will be strengthened. The Board will include members from both Elisa and
Saunalahti. The composition and the areas of responsibility of the new Board as
of 1.1.2006 will be as follows:

Veli-Matti Mattila, President and CEO
Matti Vikkula, Executive Vice President, Private Customer Business
Jukka Valtanen, Executive Vice President, Elisa's Private Customers
Panu Lehti, Executive Vice President, Saunalahti Operations
Asko Känsälä, Executive Vice President, Corporate Customer Business
Tapio Karjalainen, Executive Vice President, Production
Matias Castrén, Executive Vice President, IT, R&D and Development Programmes
(Production)
Jukka Peltola, Executive Vice President, Corporate Development
Jari Kinnunen, CFO
Hannu Laakso, Executive Vice President, Marketing
Sami Ylikortes, Executive Vice President, Administration

Matti Vikkula will continue as CEO of Saunalahti Group Oyj. Jukka Valtanen and
Panu Lehti will report to Vikkula. Asko Känsälä was previously responsible for
Elisa's Major Customers, and Tapio Karjalainen was the executive responsible for
Elisa's business development. Matias Castrén reports to Karjalainen.

CEO Veli-Matti Mattila:

"Our Executive Board consists of leading-edge competence from both companies,
which will build the most competitive large Finnish operator.
In the future, we will be able to offer enhanced services to our customers with
our new, efficient and customer-oriented operational model."

"Elisa has previously announced of its streamlining programme for the years 2005-
2007, which will continue as planned. We will further develop our way of
operating to make it faster and more flexible. We are confident that Saunalahti
creates additional potential for improving profitability."

"The prices of telecommunication services have decreased significantly during the
past two years. We believe that competition is gradually shifting to services.
There already are clear indications of this."

ELISA CORPORATION

Vesa Sahivirta
Director, IR and Financial Communication

Further information:

Mr Veli-Matti Mattila, President and CEO, Elisa Corporation,
tel. +358 10 262 2635

Distribution:

Helsinki Stock Exchange
Major media

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