\author{J.P.C.Greenlees} \address{Department of Pure Mathematics, Hicks Building, Sheffield S3 7RH. UK.} \author{M.J.Hopkins} \address{Department of Mathematics, MIT, Cambridge, MA 02139-4307, USA.} \author{I.Rosu} \address{Department of Mathematics, MIT, Cambridge, MA 02139-4307, USA.} Abstract: We give a functorial construction of a rational $S^1$-equivariant cohomology theory from an elliptic curve equipped with suitable coordinate data. The elliptic curve may be recovered from the cohomology theory; indeed, the value of the cohomology theory on the compactification of an $S^1$-representation is given by the sheaf cohomology of a suitable line bundle on the curve. The construction is easy: by considering functions on the elliptic curve with specified poles one may write down the representing $S^1$-spectrum in the first author's algebraic model of rational $S^1$-spectra