Nokia Corporation                                                               
Stock exchange release                                                          
May 27, 2009 at 09.30 (CET+1)                                                   

Changes in Nokia Corporation's own shares                                       

Espoo, Finland - Based on previously announced decisions of the Board of        
Directors to issue shares held by the Company, 4 238 462 Nokia shares (NOK1V)   
held by the Company are today transferred to approximately 10 000 participants  
of Nokia's equity-based incentive plans as settlement in accordance with the    
plan rules. The majority of the shares are delivered under the Nokia Performance
Share Plan 2005.                                                                
                                                                                
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