Decisions of the Annual General Meeting of Teleste Corporation - Seite 3

Based on the authorization, the Board of Directors is entitled to decide on the issuance of new shares and/or conveyance of the Company's own shares held by the Company so that a maximum of 2,000,000 shares may be issued and/or conveyed in total.

The maximum number of new shares that may be subscribed and own shares held by the Company that may be conveyed by virtue of the special rights granted by the Company is 1,000,000 shares in total which number is included in the above maximum numbers of new shares and own shares held by the Company.

The authorizations shall be valid for eighteen (18) months from the resolution of the Annual General Meeting. The authorizations revoke previously granted authorizations to decide on the issuance of shares and special rights entitling to shares.

ORGANISATIONAL MEETING OF THE BOARD OF DIRECTORS

The Board of Directors, which convened after the Annual General Meeting, elected Timo Luukkainen as its Chairman.

The composition of the Audit Committee of the Board of Directors was decided as follows:

Ms. Mirel Leino-Haltia, Chairman

Mr. Vesa Korpimies, member

Mr. Jussi Himanen, member

TELESTE CORPORATION

Jukka Rinnevaara
CEO

ADDITIONAL INFORMATION:
Jukka Rinnevaara, tel [phone]

DISTRIBUTION:
Nasdaq Helsinki
Main media
www.teleste.com