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Elisa strategy

Public Share Swap Offering of Elisa Corporation to shareholders of Saunalahti Group Veli-Matti Mattila CEO. Elisa executes its announced strategy: Strengthening market position in core domestic markets Stronger Finnish operator. Elisa strategy. 2005 -. Executing growth opportunities. 2003 -.

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Elisa strategy

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  1. Public Share Swap Offering of Elisa Corporationto shareholders of Saunalahti GroupVeli-Matti MattilaCEO

  2. Elisa executes its announced strategy: Strengthening market position in core domestic marketsStronger Finnish operator

  3. Elisa strategy 2005 - Executing growth opportunities 2003 - Strengthening market position in core markets Integrating One Elisa Elisa Corporation

  4. Public Share Swap Offering • Elisa Corporation offers a share swap deal to shareholders of Saunalahti Group • The offering will commence as soon as practically possible after this announcement • The detailed Terms and Conditions of the offered share swap will be released in the Offering Prospectus, which Elisa shall publish prior to commencement of the offering period, subject to approval of the Financial Supervision of Finland Elisa Corporation

  5. Key terms and conditions of the offer • One share of Saunalahti Group entitles to 0.1786 shares of Elisa • Elisa Corporation must receive title to at least 66.7 % of the votes of Saunalahti Group • The deal is subject to the approval of the Finnish Competition Authority Elisa Corporation

  6. Pre-offering acceptance and recommendation of the Board of Directors • In accordance with the information submitted to Elisa, the following shareholders of Saunalahti Group are going to accept the share swap: • Novator Finland Oy • Burdaras hf. • Keaton Industries Corp • Ajanta Oy • The above-mentioned shareholders represent a total of about 50% of the votes • The Board of Directors of Saunalahti Group has announced their recommendation to shareholders to accept the offer Elisa Corporation

  7. Pro forma key figures after the share swap Elisa Corporation

  8. Estimated contribution to profitability • Elisa estimates on the basis of public information that the cost-saving synergy potential is of the magnitude of EUR 70 million per annum • The estimate will be defined in more detail later Elisa Corporation

  9. Elisa’s vision is to be the most attractive and the most efficient Finnish telecommunications operator

  10. Forward-looking statements Statements made in this document relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of Elisa.

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