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ELISA'S REDEMPTION OFFER FOR SAUNALAHTI - PRELIMINARY RESULT

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ELISA CORPORATION STOCK EXCHANGE RELEASE 16 JANUARY 2006 AT 3.10pm


ELISA'S REDEMPTION OFFER FOR SAUNALAHTI - PRELIMINARY RESULT

The redemption offer for Saunalahti shares and share options made by Elisa
pursuant to Chapter 6 Section 6 of the Securities Markets Act expired on 13
January 2006.

According to the preliminary result, Elisa holds approximately 97.3 per cent of
Saunalahti shares and votes following the redemption offer.

Elisa was offered a total of 767,752 Saunalahti shares, which represent 0.6 per
cent of all shares, and 109,700 Saunalahti share options. If the final result
should differ from the preliminary result, Elisa expects to report this
information on 18 January 2006.

Elisa's objective is to acquire all the shares issued by Saunalahti. Elisa has
initiated acquisition proceedings in accordance with the Finnish Companies Act to
acquire the remaining Saunalahti shares.

Elisa's intention is for Saunalahti to apply for the delisting of its shares and
share options from the Main List of the Helsinki Stock Exchange as soon as
practicable.

ELISA CORPORATION

Vesa Sahivirta
Director, IR and Financial Communication

Further information:

Pekka Ekstam
M&A Director, tel. 050 520 5252

DISTRIBUTION

Helsinki Stock Exchange
Major media

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