THE RESULTS OF TELESTE’S CO-DETERMINATION NEGOTIATIONS
TELESTE CORPORATION STOCK EXCHANGE RELEASE 2.12.2008 AT 13:00 THE RESULTS OF TELESTE'S CO-DETERMINATION NEGOTIATIONS As a result of the conducted co-determination negotiations, Teleste lays off its personnel in Finland, in total about 430 persons, for the average period of two weeks. Negotiations involving additional layoffs are continued, if required by the market situation. As a result of the co-determination negotiations maximum of 9 persons may be given notice. In combination with cost cuts, the agreed measures are designed to adapt Teleste operations to the difficult-to-predict market situation without compromising the favourable growth potential. 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 NASDAQ OMX Helsinki Ltd. Visit www.teleste.com for more information. TELESTE CORPORATION Jukka Rinnevaara CEO ADDITIONAL INFORMATION: CEO Jukka Rinnevaara, tel +358 2 2605 866 or +358 400 747 488 DISTRIBUTION: NASDAQ OMX Helsinki Media www.teleste.com