Interim Report January-September 2000 November 8, 2000

1. Interim Report January-September 2000 November 8, 2000

2. Elisa grew faster than the market Elisa Communications’ 3Q key figures • Revenue EUR 899 million (EUR 756 million), rising 19 % • EBIT EUR 154 million (EUR 78 million), rising 99 % • Pre-tax profit EUR 136 million (EUR 74 million), rising 84 % Excluding the profit of sales of Comptel shares • EBIT EUR 96 million, rising 23 % • Pre-tax profit EUR 78 million, rising 5 %

3. Revenue and EBIT Breakdown 3Q/2000 Revenue breakdown EBIT breakdown* * excl. the sales profit of Comptel shares ** excl. group costs (EUR 13m)

4. Radiolinja’s Market Share Growing Radiolinja Group’s 3Q key figures • Radiolinja Group’s revenues amounted to EUR 455 million, rising 23% • Radiolinja’s subscriptions totalled 1,395,010, including 1,276,970 in Finland and 118,040 in Estonia • Radiolinja’s share of GSM subscriptions in Finland was app. 37% and the share of all mobile subscriptions 36%. For major customer sector, corresponding share was almost 50% • Radiolinja’s market share continued to grow, the share of net additions was about 43% • ARPU was EUR 40/month (38), 1Q/2000 EUR 40/month, 2Q/2000 EUR 41/month, 3Q/2000 EUR 40/month • Churn (annualised) was 12.0% (14.4) • Value added services generated 10% of revenues *adj. with leasing payments

5. ARPU (EUR/month/subscription)

6. Churn (annualised), %

7. Latest in Mobile Services • New SMS based services • Radiolinja and Riot E, a Finnish wireless entertainment company, brought mobile games based on 20th Century Fox movies to Radiolinja’s customers • Leisure time and entertainment services: Forum, Dating, Relationships etc. • A new e-billing service for business customers • Radiolinja and ABB Control Oy introduced eNäpsä!, a new integrated electricity distribution, control and monitoring system for homes

8. Fixed Network and e-BusinessBroadband and Value-Added Services • By the end of 3Q, the total number of subscriptions was 730,931 (724,714). The number of ISDN subscriptions was up 32%, amounting to 200,741. • New subscription prices and call rates on July 1, 2000 • The number of ADSL subscriptions doubled in 3Q, amounting to approx. 2,700 • Internet-traffic volume up 46%, share of total traffic 40%

9. Fixed Network and e-BusinessBroadband and Value-Added Services • Datatie launched new LanPlus service package; LAN service solution • Kolumbus introduced new ASP services: a Web based document management system and an ADSL based Kolumbus service for SMEs • Kolumbus launched a new portal and the new Kolumbus Surf service exclusive of monthly charges • Kolumbus introduced the new Hotelli Kultakala (Hotel Goldfish) service application (3D chat) • Directory Media business will be incorporated in the beginning of 2001

10. Other OperationsHighlights • Comptel’s net sales continued to grow intensively: • net sales EUR 43 (27) million, up 60% • operating profit EUR 17 million, up 94% • export up 66%, amounting to EUR 29 million • Comptel Chinchilla, a new mediator product, was introduced in September • Mäkitorppa Group’s sales developed favorably • sales of terminal equipment increased in all markets • subscription sales grew strongly on the corresponding figure for last year in the domestic market • subscription sales quadrupled in Estonia • in Germany, subscription sales almost tenfold compared to previous year’s figures • Kama Store Oy, a chain of stores strongly targeted at the youth market, started operations

11. Other OperationsHighlights • EPStar Oy acquired Omnitele’s broadband technology related consulting business • Elisa Research Center founded a competence center in Tampere. Research there focuses on new technologies and other new areas of research. • Elisa Research Center implemented a WLAN, which enables top-speed internet connections from all the hotel’s premises, at the Seaside Hotel in Helsinki

12. Germany: Elisa’s strategic market • A leading industrial country in the heart of Europe • The German telecom market approx. 15 times that of the Finnish • Germany has 13 cities the size of Helsinki, with over 500,000 inhabitants in each • Elisa’s German operations offer significant growth potential for the whole Group

13. An operator providing value-added services Consolidation Acquisition of minority interests Project consulting and technical support services Consulting Elisa in Germany • Consulting business (city carriers and MobilCom, amongst others) • More market know-how through consulting and technical support services • Acquisition of minority interests in city carriers • Consolidation • Focused customer segments • Expansion from local to national services supported by the national backbone • Provider of added value to customers • 19951998 1999 2000 2001

14. .... .... Strategic Basis for Business • Building a local multi-brand presence, based on strong customer relations, through city carriers and the Mäkitorppa chain • Creating a high quality national service brand with Elisa’s value-added products and services

15. Rostock Bremerhaven Bremen Berlin Potsdam Hannover Münster Essen Oberhausen Halle Leipzig Düsseldorf Wuppertal Dresden Leverkusen Jena Frankfurt/Main Offenbach Hanau Mainz Saarbrücken German Operations • Elisa Kommunikation GmbH acquired the entire share capital of Pulsaar GmbH • Elisa Kommunikation GmbH’s share capital raised to EUR 110 million • Mäkitorppa had 21 stores at the end of 3Q, and the number is estimated to rise to about 40 by the end of the year • Combined net sales of German subsidiaries and associated companies are estimated to reach EUR 135 million in 2000, of which EUR 7 million were consolidated in the Group’s net sales • Elisa Kommunikation sub-group’s effect on January-September operating profit EUR -8 million and on net result EUR -15 million • The loss generated by Elisa Kommunikation GmbH in 2000 is expected to amount to EUR 25 million

16. Group Income Statement *Excl. Comptel’s sales profit (EUR 58m) ** Comparable

17. Revenue, EURm

18. Pre Tax Profit, EURm *incl. one-time items

19. Fixed Asset Investments, EURm

20. Equity Ratio, %

21. Post-Fiscal Events • Elisa Communications Corporation’s Extraordinary Meeting on October 20, 2000, decided to offer a bond loan with warrants to Elisa Group’s personnel and to grant authorization to increase the share capital • Radiolinja applied for Lithuania’s third GSM 900 license in October 2000 • Radiolinja to cooperate with Nokia in the development and distribution of mCatch positioning system services • Radiolinja launched a new Tilausviesti (Message-on-demand) service (e.g. STT’s news services) • Hotelli Kultakala (Hotel Goldfish), the new Kolumbus portal service application, won the 1st prize in Markkinointi&Mainonta (Marketing&Advertising) magazine’s competition for new media • Elisa Business Line (customer services for SMEs) is expanding its operations to cover all of Finland • www.0100100.com e-directory service introduced a new 0100100 directory assistance service

22. Future Outlook • Growth prospects better than the average in the sector. Revenues for the year are expected to amount to app. EUR 1.27 billion, an increase about 19% • EBITDA margin is estimated to improve slightly on the comparable figures for the previous year • The company management expectsEBIT to amount to about EUR 140 million for 2000, and with profit of sale of Comptel shares close to EUR 200 million • Profitability (EBIT-%) in 4Q is expected to be better than in 3Q • Pre-tax profit is estimated to be lower than last year, owing to increases in depreciation on consolidated goodwill and investments in the German operations in 2Q and 3Q • The growth of the Group is estimated to clearly exceed the industry average in 2001

23. Appendix

24. Revenue, EBIT and Investments Breakdown 3Q (EURm) * Group bookings incl. group costs EUR 13 million

25. Development of ISDN and ADSL Channels * sales started November 1,1999

26. Development of Revenue by Quarters

27. Personnel