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A corrected version of the microscopic elasticity (ME) theory is proposed. Previous versions of this theory, like that of Khachaturyan, contained a discrepancy that caused severe problems in certain applications. One such case is the simulation of precipitation of secondary phases with long-ranged elastic interactions: Monte Carlo simulations using the published ME theories to account for the elastic stresses profoundly fail to predict the precipitation of plate-like particles, such as Guinier–Preston zones in Al–Cu alloys. The quoted discrepancy is resolved, so that Monte Carlo simulations using the new ME theory comply with all theoretical expectations. The revised theory also introduces new parameters such that real materials can be considered more accurately.