Teleste - Company Announcement

TELESTE SIGNS A FRAME AGREEMENT WITH IMMOMEDIANET FOR THE UPGRADE OF 13.200 APARTMENTS IN GERMANY

Turku, Finland, 2011-05-16 09:00 CEST (GLOBE NEWSWIRE) -- TELESTE CORPORATION
STOCK EXCHANGE RELEASE 16.5.2011 AT 10:00 



TELESTE SIGNS A FRAME AGREEMENT WITH IMMOMEDIANET FOR THE UPGRADE OF 13.200
APARTMENTS IN GERMANY 

Immomedianet has signed a frame agreement with Teleste for a subscriber network
upgrade project in various cities in Germany. The project is planned to last
until end of 2011 and it is provided by Teleste as a turn-key project. Teleste
will upgrade 13.200 apartments in the ownership of Deutsche Annington from a
450 MHz pure TV-content distribution network into an 862 MHz multimedia and
high-speed Internet network. 

The upgrade enables Deutsche Annington to provide attractive accommodation with
all amenities of full multimedia services to its tenants. In terms of net
sales, the estimate value of this upgrade project equals to approx. EUR 1.4
million. 

Hamburg based Immomedianet GmbH & Co. KG was founded in 2000 and is a joint
venture between housing association and Tele Columbus GmbH & Co. KG.
Immomedianet operates German wide and offers regional tailor-made multimedia
solutions. 

Teleste is an international technology group founded in 1954, which is
specialised in broadband video and data communication systems and services. The
group is active in two business segments, Video and Broadband Solutions and
Network Services; in both fields, we are among the global leaders. Video is at
the core of our business activities, with a focus on the processing,
transmission and management of video and data for operators and public
authorities who provide multiple video-related information, entertainment and
security services to end-users. Video and Broadband Solutions has the emphasis
on product solutions for broadband access networks, video service platforms and
video surveillance applications. Network Services deliver comprehensive network
service solutions including new construction, rebuilding, upgrading, planning
and maintenance services of cable networks. In 2010 the group's net sales
totalled EUR 168 million and the group employed 1231 persons at the year-end.
The company has approximately 30 offices world-wide and over 90% of Teleste's
net sales are generated outside Finland. The company is listed on the NASDAQ
OMX Helsinki Ltd. 
Visit www.teleste.com for more information.



TELESTE CORPORATION

Jukka Rinnevaara
CEO



ADDITIONAL INFORMATION:
Mr Jukka Rinnevaara, CEO, Tel. +358 2 2605 866 or +358 400 747 488

Distribution:
NASDAQ OMX Helsinki Ltd
Main Media
www.teleste.com