Nokia warrants exercised for share subscription

A total of 1,809,392 Nokia shares were subscribed for after the increase in the share capital registered on January 9, 2001. 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 689,600 shares were subscribed for, with the B warrants of the same Plan 992,272 shares and with the A and B warrants of the Nokia Stock Option Plan 1997, a total of 127,520 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 108,563.52 was registered in the Finnish Trade Register on February 7, 2001. As a result of the increase, the share capital of Nokia currently is EUR 281,881,326.90 and the total number of shares is 4,698,022,115. Nokia received as additional shareholders' equity a total of EUR 3,381,661.46.

The new shares subscribed for entitle their holders to dividend for the first time for the fiscal year 2001. The holders of the new shares are entitled to all other shareholders' rights from the registration date. However, the new shares will be listed on the Helsinki Exchanges together with the other shares no earlier than in the turn of March and April 2001. 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.

The subscription period of all the warrants of the Nokia Stock Option Plan 1995 as well as the whole Nokia Stock Option Plan 1995 ended on January 31, 2001. The last trading day for B warrants on the Helsinki Exchanges was January 24, 2001.

Further information:

Nokia
Corporate Communications
tel. +358 (0) 7180 34459
fax + 358 (9) 652 409
email: communications.corporate@nokia.com

www.nokia.com