THE PERIOD OF PUBLIC ANNOUNCEMENT OF REDUCING THE SHARE PREMIUM ACCOUNT HAS EXPIRED

On 28 June 2007, Elisa's AGM resolved to transfer the funds in the
share premium fund to the invested free equity fund. As part of the
process, the Trade Register has issued a public announcement to the
company's creditors, setting a deadline for the creditors' opposition
that expired on 23 October 2007. Elisa has been informed about cases
of opposition filed in the Trade Register that may delay the
implementation of the resolution.

When required, Elisa will set a security for the receivables reported
by the creditors as prescribed by the Companies Act. Elisa will seek
a court confirmation regarding the adequacy of the security,
following which the reduction of the share premium fund can be
implemented.

ELISA CORPORATION

Vesa Sahivirta
Vice President, IR and Financial Communication

Further information:

Jyrki Arjanne, tel. 0102 624 627
Legal Counsel

Distribution:

Helsinki Stock Exchange
Major media