A mathematical model for the stress-strain state of a plate with an inclined elliptical defect under biaxial loading is considered. Exact formulas for stresses in polar coordinates, displacements, principal stresses, maximum shear stress, and stress intensity in the case of a plane stress state of the plate were obtained by the Kolosov-Muskhelishvili method. Simulation results are compared with experimental data obtained by holographic interferometry.