ELISA´S PENSIONS TO VARMA AND SAMPO LIFE
ELISA CORPORATION STOCK EXCHANGE RELEASE 21 MARCH 2005 AT 1.15pm
ELISA´S PENSIONS TO VARMA AND SAMPO LIFE Elisa transfers its personnel's statutory pension coverage to Varma Mutual Pension Insurance Company and the supplementary pensions to Sampo Life Insurance Company Ltd as of 1 July 2005. At the same time, Elisa's Pension Fund transfers its statutory pension liabilities and assets to Varma and supplementary pension liabilities and assets to Sampo Life. The transfer does not affect the coverage or the rate of the pensions for the current employees or the pensioners. The pension liabilities in Elisa's Pension Fund were EUR 288 million on 31 December 2004. The statutory pension liabilities were EUR 229 million and supplementary pension liabilities amounted to EUR 59 million. At the time of the transfer, the assets of the Pension Fund are estimated to cover the pension liabilities and the demanded solvency margin. The transfer is part of the streamlining of Elisa's processes. The transfer will have a slightly positive impact on Elisa's 2005 result. In future, the transfer will reduce the effects on Elisa's results from the Pensions Fund's assets. The transfer calls for approval from the Insurance Supervisory Authority which is subordinate to the Ministry of Social Affairs and Health. ELISA CORPORATION Velipekka Nummikoski Vice President, Corporate Communications Additional information: Elisa CFO Tuija Soanjärvi tel. +358 10 262 2606 Varma Mutual Pension Insurance Company Hannu Tarvonen, Director tel. +358 10 514 4885 Sampo Life Insurance Company Ltd Lars Bergström, Director tel. +358 10 516 7230 Distribution: Helsinki Exchanges Major media