TELESTE CORPORATION STOCK EXCHANGE RELEASE 20.5.2008 AT 16:30 TELESTE TO BUY BACK OWN SHARES The Annual General Meeting of Teleste Corporation (Teleste) resolved on April 1, 2008 to authorise Teleste's Board of Directors to repurchase Teleste's own shares for use as consideration in future acquisitions or other arrangements related to the Company's business, as financing for investments or as part of the Company's incentive program or to be held by the Company, to be conveyed by other means or to be cancelled. Based on the authorisation granted to it by Teleste's Annual General Meeting, Teleste's Board of Directors resolved today to repurchase a maximum amount of 500 000 Teleste's own shares. The repurchases are planned to commence earliest on May 28th, 2008 and are intended to be completed by the Annual General Meeting of Shareholders for year 2009. The shares will be repurchased in public trading on the OMX Nordic Exchange in Helsinki for purposes identified in the authorization by the Annual General Meeting at a price based on the market price of the Teleste share. 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 91% of Teleste's net sales are generated outside Finland. The company is listed on the OMX Nordic Exchange Helsinki. Visit www.teleste.com for more information. TELESTE CORPORATION Jukka Rinnevaara CEO ADDITIONAL INFORMATION: Mr Jukka Rinnevaara President and CEO, tel +358 2 2605 866 or +358 400 747 488 DISTRIBUTION: OMX Nordic Exchange Helsinki Media www.teleste.com