Nokia warrants exercised for share subscription

A total of 2,919,104 Nokia shares were subscribed for after the increase in the share capital registered on June 6, 2000. The shares were subscribed for with the warrants attached to the Nokia Stock Option Plans issued to the key personnel of Nokia. With the A warrants of the Nokia Stock Option Plan 1995, a total of 203,200 shares were subscribed for, with the B warrants of the same Plan 1,545,120 shares and with the A and B warrants of the Nokia Stock Option Plan 1997, a total of 1,170,784 shares. The issue of these Stock Option Plans was approved by the Annual General Meetings of March 30, 1995 and March 25, 1997, respectively.

The corresponding increase in the share capital, in total EUR 175,146.24 was registered in the Finnish Trade Register on July 28, 2000. As a result of the increase, the share capital of Nokia currently is EUR 281,019,543.60 and the total number of shares is 4,683,659,060. Nokia received as additional shareholders' equity a total of EUR 6,865,730.20.

The holders of the new shares are entitled to all shareholders' rights from the registration date. The new shares will be listed on the Helsinki Exchanges together with the other shares on July 31, 2000. Listing of the shares will also be applied for on the Frankfurt, London, New York, Paris and Stockholm Stock Exchanges.

The subscription period for the A warrants of the Nokia Stock Option Plan 1995 began in December 1997 and for the B warrants in December 1999. The subscription period for the
A warrants of the Nokia Stock Option Plan 1997 began in December 1997 and for the B warrants in November 1999. The A and B warrants of the Nokia Stock Option Plan 1997 are listed on the Helsinki Exchanges as one security.

Further information:

Nokia Corporate Communications
Tel. +358 9 1807 459
Fax +358 9 652 409
Email communications.corporate@nokia.com

www.nokia.com