Elisa has received the following notice in accordance with Chapter 2, Section 9 of the Finnish Securities Market Act: 1. Target company: Elisa Corporation (business identity code:01116510-6) 2. Justification of the flagging announcement: As a result of an agreement between Varma Mutual Pension Insurance Company and Novator Finland Oy (business identity code: 1965835-5) Novator Finland Oy notified Elisa Corporation that its shareholding in Elisa Corporation has decreased below one-twentieth (5%) and is zero (0%). 3. Date of change in holdings: 13.October, 2008 +-------------------------------------------------------------------+ | | Number of | Percentage of | Percentage of | | | shares | shares | voting rights | |----------------------+------------+---------------+---------------| | Shareholding before | | | | | the change | 17,305,780 | 10.41 | 10.41 | |----------------------+------------+---------------+---------------| | Shareholding 13 | | | | | October, 2008 | 0 | 0 | 0 | +-------------------------------------------------------------------+ 4. Exact proportion of the voting rights and total number of shares in Elisa Elisa's total number shares 166,307,586 and each share carries on voting right. ELISA Vesa Sahivirta Director, IR and financial communication +358 50 520 5555 Distribution: Helsinki Exchanges Major Media www.elisa.com