Elisa - Company Announcement

ELISA HAS SETTLED THE DISPUTE RELATING TO GUARANTEE EXPENSE OF THE CDO PORTFOLIO

ELISA STOCK EXCHANGE RELEASE 16 DECEMBER 2010 AT 6.40pm

In the first quarter 2010 Elisa made a one-off provision of EUR 45 million
related to a USD 60 million guarantee on a CDO portfolio in 2007.

Elisa has settled the dispute with the arranger bank and terminated the
guarantee. Final amount of guarantee expense is approximately EUR 39 million,
which is EUR 6 million less than the provision. This EUR 6 million will have a
positive impact on financial expenses in Q4 2010.

The settled guarantee expense approximately EUR 39 million will be fully paid in
2010. The guarantee liability was referred to in Elisa's Annual Report 2009 in
note 33.


ELISA

Vesa Sahivirta
Director, IR and Financial Communications
tel. +358 10 262 3036

Distribution:

NASDAQ OMX Helsinki
Principal media
www.elisa.com



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