NUMBER OF ELISA SHARES INCREASES TROUGH SUBSCRIPTION OF 20007B OPTION RIGHTS

ELISA STOCK EXCHANGE ANNOUNCEMENT 29 DECEMBER 2011 AT 12.20 am

From 14 October 2011 to 12 December 2011, a total of 323,013 new Elisa shares have been subscribed 2007B option rights. Subscription price, approximately EUR 2.6 million has been booked into Elisa's reserve for invested non-restricted equity. The corresponding increase in the number Elisa shares has been entered into the Finnish Trade Register on 29 December 2011. The shares are entitled to dividends and have the same shareholder rights as the old shares. Trading of the new shares will begin on 30 December 2011 in NASDAQ OMX Helsinki Ltd.

The number of Elisa's share after the increase is 166,662,763.

The subscription period for the Elisa 2007B option rights began on 1 December 2010 and shall expire on 31 May 2012. In addition, the share subscription period for 2007C stock options rights began on 1 December 2011 and will end on 31 May 2013. Elisa announced the Stock Option Scheme 2007 on 18 December 2007. The terms of it can be seen in Elisa's web site www.elisa.com.

ELISA

Vesa Sahivirta
Director, IR and financial communication
+358 10 262 3036

Distribution:

NASDAQ OMX Helsinki
Major Media
www.elisa.com