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ELISA COMMUNICATIONS CORPORATION?S B WAR

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ELISA COMMUNICATIONS CORPORATION STOCK EXCHANGE RELEASE
                               25 FEBRUARY 2003 AT 1pm


ELISA COMMUNICATIONS CORPORATION’S B WARRANTS OF THE YEAR
2000 WARRANT PROGRAMME WILL BE APPLIED FOR LISTING ON THE
HELSINKI EXCHANGES

Elisa Communications Corporation’s Board of Directors has
decided to apply for the listing of the B warrants for the
year 2000 warrant programme on the Helsinki Exchanges as of
2 May 2003. The A warrants for the same year 2000 bond with
warrants have been quoted on the stock exchange till 2 May
2005.

There are 3,600,000 B warrants attached to the year 2000
bond with warrants. One B warrant will entitle the holder to
subscribe for one Elisa Communications Corporation A share
(ELIAV) during the period between 2 May 2003 and 31 October
2005. The current subscription price per share is EUR 20.55.

ELISA COMMUNICATIONS CORPORATION
Jyrki Antikainen
Vice President, Corporate Communications

Distribution:

Helsinki Exchanges
Major media

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