Teleste's annual general meeting 2008

Decisions

The Annual General Meeting of Teleste Corporation held on 1 April 2008 resolved to distribute a dividend of EUR 0.24 per share for 2007 for shares other than those held by the Company in accordance with the proposal of the Board of Directors. The record date for the dividend is 4 April 2008 and the dividend will be paid on 15 April 2008.

The Annual General Meeting adopted the financial statements as well as the members of the Board of Directors and the CEO were discharged from liability for the financial year 2007.

The Annual General Meeting decided that the Board of Directors shall consist of six members. Mr. Tapio Hintikka was re-elected as the Chairman of the Board of Directors and Mr. Tero Laaksonen, Mr. Pertti Raatikainen, Mr. Timo Toivila and Mr. Pekka Vennamo were re-elected as members and Kai Telanne was elected as a new member of the Board of Directors.

The Annual General Meeting decided that the annual remuneration to be paid to the Chairman of the Board of Directors is EUR 40.000 per year and the annual remuneration to be paid for other members of the Board of Directors is EUR 25.000. In addition a meeting fee of EUR 250 per meeting will be paid to each member of the Board of Directors. The annual remuneration will be paid so that 40 per cent of the annual remuneration will be used for purchasing the Company’s shares for the members of the Board of Directors and the rest will be paid in cash.

KPMG Oy Ab was elected as the auditor of Teleste Corporation.

The Annual General Meeting approved the Board of Directors proposal that the Board of Directors be authorized to decide on repurchasing a maximum of 1.400.000 own shares of the Company.

The Annual General Meeting approved the Board of Directors proposal that the Board of Directors be authorized to decide on issuing new shares and/or conveying the Company’s own shares held by the Company and/or granting special rights referred to in Chapter 10, Section 1 of the Finnish Limited Liability Companies Act.

The authorizations are valid until the Annual General Meeting of Shareholders for year 2009.