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NOTICE OF INVITATION TO ATTEND THE ANNUA

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ELISA CORPORATION                    STOCK EXCHANGE RELEASE
                                 12 FEBRUARY 2004 AT 9.15am


NOTICE OF INVITATION TO ATTEND THE ANNUAL GENERAL MEETING

Elisa Corporation shareholders are hereby invited to attend the
Annual General Meeting of Shareholders to be held at Helsinki Fair
Center, Messuaukio 1, Helsinki at 1.00pm on Wednesday, 31 March
2004.  The issuing of voting slips to the shareholders attending
the meeting will commence at the above venue at 12 noon. It will
also be possible to follow the meeting via the Internet at
www.elisa.com.

The following matters will be on the agenda of the meeting
   
1. Matters pertaining to the Annual General Meeting as
   specified in Article 13 of the company’s Articles of 
   Association.

2. The Board of Directors' proposal that Article 14 of the
   Articles of Association regarding series A and B shares be
   removed, and that Article 4 be amended as follows:

  4§ Shares
  
  The nominal value of the shares is one half (½) of a euro.

  The Board of Directors proposes that Article 5 concerning the
  conversion of shares and Article 15 on the order of decision-
  making be removed, and that the numbering of other Articles be
  amended accordingly.

3.The Board of Directors proposes to the Annual General Meeting
  to authorize the Board of Directors, within one year from the
  Annual General Meeting, to decide on increasing the share
  capital through one or more new issues, one or more convertible
  bonds and/or warrants so that, in a new issue, the subscription
  of shares in exchange for the convertible bonds and pursuant to
  warrants may be 27.6 million shares at the maximum, and the
  company's share capital can be increased by a maximum of EUR
  13,800,000 in total.

  The Board of Directors proposes that the authorization entitles
  it to disapply the pre-emption rights of the existing
  shareholders to subscribe for new shares, convertible bonds
  and/or warrants and to decide the determination principles and
  issue prices, the terms and conditions for subscribing for new
  shares and the terms of the convertible bond and warrants. The
  pre-emption rights of shareholders may be waived by means of
  this authorization if there exists an important financial
  reason for doing so, such as financing, implementing or
  enabling corporate acquisitions, strengthening or developing
  the company’s financial or capital structure or carrying out
  other arrangements related to development of the company’s
  activities. The Board of Directors is allowed to decide those
  entitled to subscribe but such a decision may not be made for
  the benefit of members of the company’s inner circle. The Board
  of Directors is entitled to decide that the shares to be issued
  in a new issue, convertible bond or warrant can be subscribed
  for in kind or otherwise on certain conditions or by using the
  right of set-off.
  
  Moreover, the Board of Directors proposes that the
  authorization of increasing the share capital be cancelled.
  
Dividend

The Board of Directors proposes to the Annual General Meeting that
no dividend be paid for the year 2003.

Auditor

Board of Directors has decided after hearing the Committee for
Auditing to propose to the Annual General Meeting that it appoint
KPGM Wideri Oy Ab, public authorised accountants, be the company's
external auditor.

Eligibility to attend and registration

Shareholders registered on Friday 19 March 2004 in the company’s
share register kept by the Finnish Central Securities Depository
are eligible to attend the Annual General Meeting. Any owners of
nominee registered shares wishing to attend the Meeting and to
exercise their right to vote may be temporarily registered in the
share register. To arrange temporary registration, a nominee
registered shareholder should contact their assets manager in due
time before 19 March 2004.

Registration commences on 8 March 2004 and ends on 23 March 2004.

ELISA CORPORATION

Velipekka Nummikoski
Vice President, Corporate Communications

Distribution

Helsinki Exchanges
Major media

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