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FINNISH COMPETITION AUTHORITY ACCEPTED SAUNALAHTI ACQUISITION

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ELISA CORPORATION STOCK EXCHANGE RELEASE 26 OCTOBER 2005 AT 3.30pm


FINNISH COMPETITION AUTHORITY ACCEPTED SAUNALAHTI ACQUISITION

By its decision, the Finnish Competition Authority (FCA) has accepted Elisa's
Saunalahti acquisition.

Relating to this corporate arrangement, Elisa has given undertakings to the FCA
for the part of the broadband market, which in essence include the following:

After acquiring the authority Elisa undertakes that the Saunaverkko network
required in the implementation of Saunalahti's broadband services inclusive of
customer agreements will be sold in the regions of Tampere, Jyväskylä and
Riihimäki.

Furthermore, Elisa undertakes that the Saunaverkko network exclusive of customer
agreements will be sold in the Helsinki metropolitan area. In addition, Elisa
undertakes to lease the broadband capacity for a fixed period on unbiased terms
in the said area.

Compliance of the conditions and, when necessary, the implementation of the sales
are monitored by an independent expert, which reports to the FCA.

The decision regarding the mobile communication business does not include
conditions.

Elisa's share exchange offer to Saunalahti shareholders and option holders will
continue in accordance with the previously announced terms until Friday, 4
November 2005. Of the Saunalahti shareholders, 70.9 per cent had accepted the
share exchange offer by 24 October 2005 pursuant to the terms of the offer.

Elisa will provide further information on the subject tomorrow, 27 October 2005,
in conjunction with disclosing its interim report.


ELISA CORPORATION

Vesa Sahivirta
Director, IR and Financial Communication


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Helsinki Stock Exchange
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