Exercises with stock options of Nokia Corporation


Nokia Corporation                                                               
Stock exchange release                                                          
October 31, 2008 at 9.30 (CET +1)                                               

Exercises with stock options of Nokia Corporation                               

Espoo, Finland - Based on Nokia's 2003 employee stock option plan, 3 390 shares 
of Nokia Corporation were subscribed for between October 1, 2008 and October 27,
2008. The total amount of subscription prices will be recorded in the fund for  
invested non-restricted equity.                                                 

The new shares carry full shareholder rights as from the registration date,     
October 31, 2008. The shares are admitted to public trading on the NASDAQ OMX   
Helsinki Ltd as of the registration date together with the old Nokia share class
(NOK1V).                                                                        

After the registration, the total number of shares is 3 800 942 739, including  
the shares held by the company.                                                 

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