Elisa - Company Announcement

ELISA’S SHARE-BASED INCENTIVE PLAN IN 2009-2010 AND THE DISTRIBUTION OF SERIES 2007C STOCK OPTIONS

ELISA STOCK EXCHANGE RELEASE 16 DECEMBER 2009 AT 6.15pm

Share-based incentive plan

In 2008, the Board of Directors of Elisa decided on a on a new share-based
incentive plan for the Elisa group key personnel the detailed terms and
conditions of which can be found in Elisa's 2008 Annual Report and in the stock
exchange bulletin released on 22 December 2008. The plan includes three earning
periods which are calendar years 2009, 2010 and 2011.

The Board of Directors of Elisa has decided that the potential reward from the
earning period 2010 will be based on the Elisa group's earnings per share (EPS)
and revenue in 2010. The plan is directed to approximately 50 people. The
rewards payable in the earning period 2010 on the basis of the plan can in the
maximal level be 766,000 Elisa share.

Stock option plan

In 2007, the Board of Directors of Elisa resolved on a stock option plan the
detailed terms and conditions of which can be found in Elisa's 2008 Annual
Report and in the stock exchange bulletin released on 18 December 2007. The
Board of Directors of Elisa has decided to distribute 2007C stock options to
Elisa Group's' key personnel. The option program is aimed for approximately 150
key employees who are not part of the share-based incentive plan.

The maximum number of 2007C stock options is 850,000 and 471,500 of them are
going to be distributed to the Elisa's key personnel. The strike price for
series 2007C stock options is now EUR 13.99 per share and the subscription
period is 1 December 2011 - 31 May 2012.

ELISA
Vesa Sahivirta
Director, IR and Financial Communication
tel. +35850 520 5555

Distribution:

NASDAQ OMX Helsinki
Major Media
www.elisa.com





[HUG#1363165]