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ELISA'S GERMANY-BASED BUSINESS

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ELISA CORPORATION                   STOCK EXCHANGE RELEASE
                                12 FEBRUARY 2004 AT 8.16 am


ELISA'S GERMANY-BASED BUSINESS

Elisa has specified its business strategy and determined that the
Germany-based business is not included its core businesses. Elisa
has initiated negotiations on divesting the above-said business
operations.

Elisa's strategy is to focus on telecommunication services in its
main market area Finland.

ELISA CORPORATION

Velipekka Nummikoski
Vice President, Corporate Communications

Additional information:

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

Distribution

Helsinki Exchanges
Major media

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