Elektrobit Oyj - Company Announcement

EB, ELEKTROBIT CORPORATION, AND NOKIA SIEMENS NETWORKS AGREE UPON WIMAX COOPERATION

STOCK EXCHANGE RELEASE
Available for publication on October 1st 2008 at 9:40 am. (CEST+1)
EB, ELEKTROBIT  CORPORATION, AND  NOKIA SIEMENS  NETWORKS AGREE  UPON
WIMAX COOPERATION

EB and Nokia Siemens Networks, belonging to the leading developers of
the mobile WiMAX standard, have  agreed upon the co-operation on  the
further development of WiMAX technology. According to the  agreement,
EB will  sell its  WiMAX  baseband software  asset to  Nokia  Siemens
Networks. The  parties have  agreed to  continue the  WiMAX  baseband
software related  product development  together, with  Nokia  Siemens
Networks purchasing  WiMAX product  development  work  from EB  as  a
service. According to the agreement, EB  will in the future have  the
licence to  use  the  WiMAX  baseband  software  and  its  subsequent
versions when developing demanding customer solutions based on  WiMAX
technology.

With the  cooperation, EB  and Nokia  Siemens Networks  will  combine
their competences, thereby accelerating WiMAX technology's access  to
the market."The agreement gives both parties the best conditions to continue  to
develop their own wireless WiMAX businesses. We will transfer current
WiMAX  development  resources   to  the   development  of   demanding
customer-financed solutions,"  says Ari  Virtanen, head  of  Wireless
Solutions at EB. ""The WiMAX is important technology to Nokia Siemens Networks",  says
Markku Hollström,  Head  of Broadband  Wireless  Product  Management,
Nokia Siemens  Networks. "This  agreement  supports our  strategy  to
deliver the most advanced solutions based on WiMAX network technology"


EB will change  its business model  in the mobile  WiMAX standard  by
shifting from  investing upfront  in the  R&D of  radio base  station
module products to  the development  of demanding,  customer-financed
WiMAX solutions. The  agreement does not  have significant result  or
balance sheet impact for the second half of 2008 for EB, but it  will
reduce significantly  the  costs of  EB's  own R&D  investment  going
forward, while maintaining the  opportunity to develop and  implement
demanding WiMAX solutions for customers.


October 1st, 2008
Elektrobit Corporation
Board of Directors

FURTHER INFORMATION:

Ari Virtanen
Vice President, Wireless Solutions
Tel. +358 400 435 878

Outi Torniainen
Director, Communications and Marketing
Tel. +358 40 512 1375

DISTRIBUTION:
OMX Nordic Exchange Helsinki
Main media offices

EB, Elektrobit Corporation
EB develops advanced technology and transforms it into enriching  end
user experiences. EB specializes  in demanding embedded software  and
hardware  solutions  for   the  automotive   industry  and   wireless
technologies. The company's net sales  for the year 2007 totaled  EUR
144.3 million. Elektrobit  Corporation is  listed on  the OMX  Nordic
Exchange Helsinki. www.elektrobit.com