Elisa Oyj (HEL:ELI1V) NOTICE PURSUANT TO THE FINNISH SECURITIES MARKET ACT, CHAPTER 2, SECTION 10

Elisa Oyj (HEL:ELI1V) Elisa has received the following notice in accordance with Chapter 2, Section 9 of the Finnish Securities Market Act:

1. Target company: Elisa Corporation (business identity code:0116510-6)

2. Justification of the flagging announcement:

Varma Mutual Pension Insurance Company (business identity code: 0533297-9) has today sold 16.000.000 Elisa's shares to the State of Finland. After the deal Varma Mutual Pension Insurance Company hold less than 10 per cent of Elisa's shares and votes.

3. Date of change in holdings: 19 December, 2008

+-------------------------------------------------------------------+ | | Number of | Percentage of | Percentage of | | | shares | shares | voting rights | |----------------------+------------+---------------+---------------| | Shareholding before | | | | | the change | 26,151,976 | 15.73 | 15.73 | |----------------------+------------+---------------+---------------| | Shareholding after | | | | | the change | 10,151,976 | 6.10 | 6.10 | +-------------------------------------------------------------------+

Total number of Elisa shares is 166,307,586 and each share carries one voting right.

ELISA

Vesa Sahivirta Director, IR and financial communication +358 50 520 5555

Distribution:

OMX Helsinki Exchange Major Media www.elisa.com

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Elisa Oyj

http://www.elisa.com

ISIN: FI0009007884

Stock Identifier: XHEL.ELI