Elisa Oyj

Major Shareholding Notification • May 21, 2010

Disclosure 278908

Elisa - Company Announcement

NOTICE PURSUANT TO THE FINNISH SECURITIES MARKET ACT, CHAPTER 2, SECTION 10

ELISA STOCK EXCHANGE ANNOUNCEMENT 21 MAY, 2010 AT 5.45PM Elisa has received the following notice in accordance with Chapter 2, Section 9 of the Finnish Securities Market Act: BlackRock Inc.'s proportion of the total number of Elisa shares and voting rights has decreased below 5 % (1/20) 1. Target Company: Elisa Corporation (ELI1V). 2. Justification of the flagging announcement: Disposal of shares 20 May 2010 3. Date of change in holdings: 20 May 2010 4. Exact proportion of the voting rights and total number of shares in Elisa +----------------------------+------------------------+------------------------+ |Number os shares (inc. |Share of the total |Share of number of votes| |indirect ownership |number os shares | | +----------------------------+------------------------+------------------------+ |8,223,665 |4.94 % |4.94 % | +----------------------------+------------------------+------------------------+ Total number of Elisa shares is 166,307,586 and each share carries one voting right. 5. Shareholder's full name, business identity code: BlackRock Inc. (USA Tax ID 32-0174421, SEC CIK Code#: 0001364742) ELISA Vesa Sahivirta Director, IR and financial communication +358 50 520 5555 Distribution: NASDAQ OMX Helsinki Major Media www.elisa.com [HUG#1418074]