*

Hitt og þetta 27. apríl 2006

Stock options exercised to subscribe for Elcoteq shares and increase in share capital

A/B/C/D/E options under Elcoteq SE's 2001 stock option scheme have been exercised to subscribe for 216,100 new Elcoteq Series A shares between March 15 and April 18, 2006. The share subscription price was 6.53 euros per share, as stipulated in the option scheme's conditions. The subscription period for the A warrants under the 2001 stock option scheme began on April 1, 2002, for the B warrants on April 1, 2003, for the C options on April 1, 2004, for the D options on April 1, 2005 and for the E options on April 1, 2006.

The 216,100 new shares will be recorded in the Trade Register on or about May 5, 2006. Elcoteq's share capital will increase by altogether 86,440 euros as a result of the subscription, totaling 12,555,070.80 euros from the date of registration. Following the increase the number of A shares will total 20,810,677.

The new shares will carry dividend rights from the date of registration, and Elcoteq will apply for their listing on the Helsinki Exchanges with the company's existing shares. Trading in these shares will start on or about May 8, 2006.