Elisa - Major shareholder announcements

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

Elisa has received the following notice in accordance with Chapter 2,
Section 9 of the Finnish Securities Market Act:

 1. Target company:  Elisa Oyj (business identity code: 0116510-6)


2. Justification of the flagging announcement:

Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension
Insurance Company, The State Pension Fund,  Etera Mutual Pension
Insurance Company and Mutual Insurance Company Pension Fennia, which
together hold more than 5 per cent of Elisa's shares and votes refer
to the flagging  announcement given in 13 December 2007 and notify
now that the flagging justification given in the flagging
announcement in 13 December 2007 is expired after the Extraordinary
General Meeting have been held in 21 January 2008. Ilmarinen Mutual
Pension Insurance Company's, Varma Mutual Pension Insurance
Company's, The State Pension Fund's,  Etera Mutual Pension Insurance
Company's and Mutual Insurance Company Pension Fennia's portion of
Elisa's shares and votes alone for every company is below
one-twentieths (5 per cent).
Some proxies given by the owners  are valid also after the
Extraordinary General Meeting.

3. Date of change in holdings: January 21, 2008

4. Exact proportion of the voting rights and total number of shares
in Elisa

The share of all the companies given the flagging announcement is
below one-twentieths (5 per cent). Elisa's total number of shares is
166,307,586 and each share carries one voting right.

Shareholders' full names, business identity codes:
Ilmarinen Mutual Pension Insurance Company, business identity code
0107638-1
Varma Mutual Pension Insurance Company, business identity code
0533297-9,
The State Pension Fund, business identity code 1583293-4
Etera Mutual Pension Insurance Company, business identity code
0117086-1
Mutual Insurance Company Pension Fennia,  business identity code
0201104-5

ELISA

Vesa Sahivirta
Director, IR and financial communication

Distribution:

Helsinki Exchanges
Major media