Board's resolution to issue shares held by the Company; Changes in Nokia Corporation's own shares


Nokia Corporation                                                               
Stock exchange release                                                          
October 22, 2008 at 13.15 (CET+1)                                               

Board's resolution to issue shares held by the Company; Changes in Nokia        
Corporation's own shares                                                        
                                                                                
Espoo, Finland - The Nokia Board of Directors has resolved to issue 2 110 000
Nokia shares (NOK1V) held by the Company as settlement under the Nokia's equity
based incentive plans to the plan participants. 
                                                                                
Based on the above decision and previously announced decisions of the Board of  
Directors to issue shares held by the Company, 1 367 176 Nokia shares held by   
the Company are today transferred to participants of Nokia's equity based       
incentive plans as settlement under the plans.                                  

Media Enquiries:                                                                

Nokia                                                                           
Communications                                                                  
Tel. +358 7180 34900                                                            
Email: press.services@nokia.com                                                 

www.nokia.com