Notification according to Chapter 2, Section 10 of the Finnish Securities Market Act

BIOTIE THERAPIES CORP.    STOCK EXCHANGE RELEASE January 3, 2011 at 4.30 p.m. Notification according to Chapter 2, Section 10 of the Finnish Securities Market Act Biotie Therapies Corp. ("Company") has gained knowledge of the notifications regarding the following changes in holdings in accordance with Chapter 2, Section 9 of the Finnish Securities Markets Act. Pequot Capital Management, Inc (SEC-registration number 801-56015) address 187 Danbury Road, Wilton, CT 06897, United States of America ('Pequot') has notified Company that as a result of share transactions carried out on 29 December, 2010 certain changes in holdings of the Company's shares have taken place that are under Pequot's management. As a result of these share transactions, the aggregate holdings of the below funds have decreased from above 5 % of the number of shares of the Company. The changes in holdings in accordance with Chapter 2, Section 9 of the Finnish Securities Markets Act of which the Company has gained knowledge are described below: Name of the Shares prior to the Shares after the % of shares after shareholder transactions transactions the transactions Pequot Diversified 751,000 516,000 0.29% Liquidating Trust; Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, DE 19890, United States of America; Pequot HC 4,688,170 3,220,141 1.83% Liquidating Trust; Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, DE 19890, United States of America; Pequot HC EM 2,040,770 1,402,170 0.80% Liquidating Trust; Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, DE 19890, United States of America; Pequot HC 1,288,406 885,206 0.50% Institutional Liquidating Trust; Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, DE 19890, United States of America; and Pequot HC Offshore 3,686,577 2,532,677 1.44% Liquidating Trust Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, DE 19890, United States of America. Total 12,454,923 8,556,194 4.86% The registered number of shares in Biotie Therapies Corp. is 176.003.931. Of these shares 14.747.084 are held by the Company and the number of outstanding shares and voting rights attached to the shares amounts thus to 161,256,847. The voting rights attached to the Company's shares held by Pequot still exceeds 1/20 as the number of votes attached to shares held by Pequot amounts to 5.31 % of the total number of votes in the Company. Turku, January 3, 2011 Timo Veromaa President and CEO For further information, please contact: Virve Nurmi, Biotie Therapies Corp. tel. +358 2 274 8900 e-mail:virve.nurmi@biotie.com DISTRIBUTION NASDAQ OMX Helsinki Ltd Main Media www.biotie.com This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Biotie Therapies Oyj via Thomson Reuters ONE [HUG#1476753]