Elisa - Company Announcement

THE EXTRAORDINARY CAPITAL REPAYMENT AND UPDATE OF DISTRIBUTION POLICY

Elisa's Board of Directors decided on the extraordinary distribution
of a capital repayment per share of EUR 0.40 on the basis of the
balance sheet of 31 December 2008 and the authorisation of additional
distribution maximum EUR 150 million from the Annual General Meeting.
This decision is based on the favourable development of the company's
result and financial position as well as maintaining the company's
capital structure in line with the set financial targets.

The capital repayment distribution total approximately EUR 62.2
million and it will be distributed out of the reserve for invested
non-restricted equity. No capital repayment will be paid on treasury
shares held by Elisa.

Capital repayment will also effect the Elisa 2007 stock options by
reducing the strike price of the series 2007A stock options to EUR
18.04 and series 2007B stock options to EUR 10.89.

The capital repayment ex-date is 26 October 2009 and it will be paid
to shareholders listed in the company's share register maintained by
the Euroclear Finland Ltd on 28 October 2009. The payment will be
paid out starting on 6 November 2009.

Elisa's updated distribution policy

The previous distribution policy was: "Ordinary profit distribution
is 40-60 per cent of the profit for the financial period.
Distribution of profit includes dividend payment, capital repayment
and purchase of treasury shares."

The new updated policy is: "Ordinary profit distribution is 40-60 per
cent of the profit for the financial period. In addition possible
excess capital can be distributed to shareholders. When making the
distribution proposal or decision the Board of Directors will take
into consideration the company's financial position, future financial
needs and financial targets. Distribution methods include dividend
payment, capital repayment and purchase of treasury shares."


ELISA

Vesa Sahivirta
Director, IR and Financial Communication

Distribution:

Helsinki Stock Exchange
Principal media