Elisa - Company Announcement

THE MERGER OF LOUNET OY WITH ELISA ENTERED IN THE TRADE REGISTER

The merger of Lounet Oy with Elisa was entered in the Trade Register
on 30 September 2007. The new Elisa shares offered as merger
consideration have been recorded in the shareholders' book-entry
accounts.

As a result of the merger, 241,570 new Elisa shares were issued. The
shares will be entered in the book-entry accounts on 1 October 2007,
and trading of the shares, together with old shares with similar
rights, will begin on 2 October 2007. The Financial Supervision
Authority granted Elisa an exemption from the publication of a
prospectus pursuant Chapter 2, section 11 of the Securities Markets
Act.  The number of Elisa shares after the issue of new shares will
be 166,307,586, of which 8,049,976 are held by the company.

As a result of the merger, the redemption of 445,000 Lounet shares,
pursuant Chapter 16, section 13 of the Companies Act, has been
requested. The redemption price for these shares totals approximately
EUR 0.7 million.

On 1 August 2007 Elisa's Board of Directors announced the
distribution of an extra dividend per share of EUR 1.00.  The merger,
which was the prerequisite for the dividend payment schedule, has
taken place. The extra dividend will be paid according to the
following schedule: the dividend ex-date is 16 October 2007, the
record date is 18 October 2007, and the payment date is 25 October
2007.

ELISA CORPORATION

Vesa Sahivirta
Director, IR and Financial Communications

Further information:

Jari Kinnunen
CFO
tel. +358 10 262 9510

Distribution:

Helsinki Stock Exchange
Principal media