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ELISA TO ACQUIRE 96 PER CENT OF SAUNALAHTI SHARES

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ELISA CORPORATION STOCK EXCHANGE RELEASE 7 NOVEMBER 2005 AT 3pm


ELISA TO ACQUIRE 96 PER CENT OF SAUNALAHTI SHARES

The offer period of the public tender offer by Elisa Corporation for all shares
as well as share options of the 2002 and 2003 option programmes issued by
Saunalahti Group Oyj that commenced on 23 August 2005 has ended on 4 November
2005.

Shareholders representing in total approximately 96 per cent of the issued shares
and voting rights of Saunalahti have, based on a preliminary calculation,
tendered their shares in the tender offer. The tender offer has been accepted by
holders of share options of the 2003 option programme for 342.782 share options
in total. Saunalahti shares have been subscribed with all share options of the
2002 option programme.

Based on the preliminary result of the public tender offer, the conditions for
the completion of the tender offer have been fulfilled pursuant to the terms of
the offer. The Board of Directors of Elisa will make a decision on the completion
of the tender offer, provided that such conditions are still fulfilled, on 11
November 2005, when the final result of the tender offer will be published.

If the tender offer is completed, the increase in the share capital of Elisa
required by the public tender offer will be recorded in the Trade Register on or
about 15 November 2005. The new Elisa shares will be entered into the book-entry
accounts of the Saunalahti shareholders who have accepted the tender offer on or
about 16 November 2005. The payment of the cash consideration to the holders of
Saunalahti share options who have accepted the tender offer will be made on or
about 23 November 2005.

ELISA CORPORATION

Vesa Sahivirta
Director, IR and Financial Communication

Additional information:

Pekka Ekstam
M&A Director, tel. +358 50 520 5252

DISTRIBUTION:

Helsinki Stock Exchange
Major media

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