TietoEnator's Annual General Meeting: Matti Lehti and Hannu Syrjälä

TietoEnator Corporation Press Release 27 March 2008 at 7.45 pm EET TietoEnator Annual General Meeting convened today at 5 pm EET. In his welcoming speech, Matti Lehti, Chairman of the Board of TietoEnator, discussed the factors behind TietoEnator's strategy revision and the actions the Board took during autumn 2007. Lehti also briefly restated the Board's view on Nordic Capital's offer for TietoEnator's shares. "TietoEnator has been clearly undervalued during the last months, and the low stock price has attracted an offer that, according to the Board's preliminary opinion, does not reflect the real value of the company. In our view, the price does not give credit to the already begun Performance Improvement Programme nor the strategy revision." said Lehti. He also stressed that the role of the Board of Directors is to ensure that TietoEnator's shareholders get the benefit of the potential increase in value achieved by these measures. Matti Lehti adds: "The Board will make a thorough analysis of the bid, but now already we are of the opinion that the bid does not seem to bring any material changes to TietoEnator's current strategy. This also reflects the fact that the offeror believes in the company's potential." After having received the official offer document, the Board will give its statement of opinion. The Board is also evaluating other alternatives the company has for its effective future value growth. The company has raised broad interest. Hannu Syrjälä, the President and CEO, presented TietoEnator's revised strategy and the Performance Improvement Programme that was launched in January. Syrjälä reminded the meeting that the company has just now started the corrective actions to improve profitability and it will be a long-term process. Syrjälä repeated that the programme is progressing as planned. The actions taken by the end of February amount to annualized savings of EUR 24 million. The company is on track in reaching the annual savings target of more than EUR 100 million from the end of 2009. Accelerating global sourcing is part of the programme. In 2007, the number of offshore personnel increased by 60%. TietoEnator's goal is to increase in three to five years the number of personnel in offshore countries to account for 40% of all employees. About half of this target was reached by the end of 2007. In his presentation Hannu Syrjälä also represented some elements of TietoEnator's growth strategy. "Regarding growth our development is in line with the target announced earlier by the company", he said. In the recent years, TietoEnator's net sales have in average grown faster than the relevant market. In 2007, organic growth was at a record high of 9%. Good growth is expected to continue. Syrjälä sees potential in new kinds of services introduced by the customers in the coming years. Information technology can and will be deployed more fully in many sectors. For example Russia is considered as the company's potential growth market. Additionally, TietoEnator's market share is relatively low in Sweden and can be increased. Hannu Syrjälä adds: "One of TietoEnator's main strengths is our excellent customer base. We are the trusted partner of several Nordic customers and internationally leading companies. Co-operation with these growing companies keeps us on a growth track both in our home markets and internationally." For further information, please contact: Reeta Kaukiainen, EVP, Communications and Investor Relations, tel. +358 9 8626 3276 or +358 50 522 0924, reeta.kaukiainen@tietoenator.com TIETOENATOR CORPORATION DISTRIBUTION Principal media TietoEnator is among the leading architects in building a more efficient information society and one of the largest IT services providers in Europe. TietoEnator specializes in consulting, developing and hosting its customers' business operations in the digital economy. The Group's services are based on a combination of deep industry-specific expertise and the latest information technology. TietoEnator has about 16 000 experts in close to 30 countries. www.tietoenator.com