TELESTE CONTINUES TO DELIVER PRODUCTS FOR FURTHER UPGRADES IN GERMANY

TELESTE CORPORATION STOCK EXCHANGE RELEASE 8.11.2006 AT 12.15

TELESTE CONTINUES TO DELIVER PRODUCTS FOR FURTHER UPGRADES IN GERMANY

Teleste has received an order from ImmoMediaNet GmbH & Co.KG, a company
belonging in the Tele Columbus Group, to deliver amplifiers and additional
Broadband Network equipment to upgrade parts of their networks for two-way
communications.

The upgrades of the networks takes place in northern part of Germany and will be
carried out in 2007 and 2008. The value of the contract is above 1.7 million
euros.

Tele Columbus GmbH & Co.KG is one of the leading German access network providers
with 1.5 million subscribers in their networks. Their service portfolio includes
video services and high speed data and telephony for residential customers.
Teleste has been one of the main technology providers for Tele Columbus since
1997.

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 recognised
for their know-how and ability to produce technically cutting edge solutions
year after year. In 2005 the group's net sales in continuing business totalled
EUR 82.6 million and the group employed 577 persons at the year-end. The company
has approximately 30 offices world-wide. Close to 90% of Teleste's net sales are
generated outside Finland. The company is listed on the main list of Helsinki
Exchanges. 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:
Helsinki Exchanges
Media
www.teleste.com