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SHARES SUBSCRIBED WITH TELESTE 2002B STOCK OPTIONS

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TELESTE CORPORATION  STOCK EXCHANGE RELEASE   14.7.2008  AT 12:00               
                                                                                

SHARES SUBSCRIBED WITH TELESTE 2002B STOCK OPTIONS                              

A total of 3,250 shares in Teleste Corporation have been subscribed for with the
stock options 2002B after the increase of shares registered on 12 May 2008. In  
accordance with the Terms and Conditions, the share subscription price with the 
stock options 2002B stock options is EUR 1.85/share.                            

The share subscription period with the stock options 2002B commenced in February
2006. The stock option program was approved by the Annual General Meeting on 8  
April 2002.                                                                     

These shares, 3,250 in total, have been entered into the Trade Register on 14   
July 2008. As a result of the share subscriptions, the number of shares was     
increased by a total of 3,250 new shares. The share subscription price will be  
recorded under the invested non-restricted equity fund.                         

After the increase of 3,250 shares registered on 14 July 2008, the number of    
Teleste shares is 17,688,755. The shares have no nominal value.                 

The holders of the new shares are entitled to all shareholder rights from the   
registration date, i.e. 14 July 2008. Listing of the new shares will be         
applied for on the OMX Nordic Exchange Helsinki Oy together with the old shares 
beginning 15 July 2008.                                                         

Teleste is an international technology group founded in 1954, which is          
specialized in broadband data communication systems and solutions. The group is 
divided into two Strategic Business Units: Broadband Cable Networks and Video   
Networks. Broadband Cable Networks serves cable operators and a major part of   
its business activities are handled through direct customer contact. Video      
Networks supplies solutions for optical signal transmission and video network   
management software solutions for video surveillance and a major part of its    
business is handled through system integrators. Both Business Units are among   
the leading providers in their market areas and are globally recognized for     
their know-how and ability to produce technically cutting edge solutions year   
after year. In 2007 the group's net sales totalled EUR 125.1 million and the    
group employed 672 persons at the year-end. The company has approximately 30    
offices world-wide and over 90% of Teleste's net sales are generated outside    
Finland. The company is listed on the OMX Nordic Exchange Helsinki.             
Visit www.teleste.com for more information.                                     


TELESTE CORPORATION                                                             


Jukka Rinnevaara                                                                
CEO                                                                             


ADDITIONAL INFORMATION:                                                         
CFO Erja Saarikoski tel. +358 2 2605 685 or +358 40 550 9677                    

DISTRIBUTION:                                                                   
OMX Nordic Exchange Helsinki                                                    
Media                                                                           
www.teleste.com

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