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STANDARD & POOR'S CHANGED ELISA'S RATING OUTLOOK STABLE

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ELISA STOCK EXCHANGE RELEASE 26 OCTOBER 2006 AT 4.15pm


STANDARD & POOR'S CHANGED ELISA'S RATING OUTLOOK STABLE

Standard & Poor's Ratings Services has affirmed Elisa's long term credit rating
to BBB. The outlook was changed to stable from negative. The short term rating
was upgraded from A-3 to A-2.

The change in outlook was based on Elisa's improved profitability and market
position in competitive Finnish telecommunication market.

Standard & Poor's published today its own release on Elisa's credit ratings.

ELISA

Vesa Sahivirta
Director, IR and Financial Communication

For further information, please contact:


Juha Kervinen
Group Treasurer, tel. +358 10 2623625

Distribution:

Helsinki Exchanges
Major media

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