Elisa Oyj

Major Shareholding Notification • Jan 17, 2008

Disclosure 249425

Elisa - Company Announcement

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

Elisa has been notified, in accordance with Chapter 2, Section 9 of the Finnish Securities Market Act, of a change in the company's ownership as follows: On January 11, 2008, Novator Finland Oy notified the Finnish Financial Supervision Authority and Elisa Corporation that Novator Finland Oy's shareholding in Elisa Corporation will exceed three-twentieths (3/20) on February 15, 2008, and fall again below three-twentieths (3/20) on March 3, 2008. As a result of an extension of the maturity of an OMX forward contract, Novator Finland Oy's shareholding in Elisa Corporation will not exceed three-twentieths (3/20) on February 15, 2008. Novator Finland Oy today extended the maturity of an OMX forward contract on 2,748,000 shares of Elisa Corporation from January 18, 2008 to March 20, 2008. Therefore, we hereby notify the Finnish Financial Supervision Authority and Elisa Corporation the following: A. Target company: Elisa Corporation (business identity code: 0116510-6) B. Description of current shareholding: As at January 16, 2008, Novator Finland Oy holds 24,741,680 shares in Elisa Corporation representing 14.88 percent of the shares and voting rights in Elisa Corporation. The current shareholding includes 2,748,000 shares that Novator Finland Oy has borrowed through OMX stock lending contracts that mature on January 18, 2008. C. Shareholding as at January 18, 2008: After the above-mentioned OMX stock lending contracts mature, Novator Finland Oy will hold 21,993,680 shares in Elisa Corporation representing 13.22 percent of the shares and voting rights in Elisa Corporation. D. Shareholding as at February 15, 2008: After the OMX forward contract on 954,110 shares of Elisa Corporation matures, Novator Finland Oy will hold 22,947,790 shares in Elisa Corporation representing 13.80 percent of the shares and voting rights in Elisa Corporation. E. Elisa Corporation's total number of shares is 166,307,586. Each share carries one voting right, and, therefore, the shares of Elisa Corporation carry a total of 166,307,586 voting rights. F. Shareholder's full name: Novator Finland Oy (business identity code: 1965835-5) ELISA Vesa Sahivirta Director, IR and financial communications DISTRIBUTION: Helsinki Stock Exchange Major media