Nokia warrants exercised for share subscription

A total of 197,152 Nokia shares were subscribed for after the increase in the share capital registered on February 7, 2001. The shares were subscribed for with the A and B warrants attached to the Nokia Stock Option Plan 1997 issued to the key personnel of Nokia. The issue of this Stock Option Plan was approved by the Annual General Meeting of March 25, 1997.

The corresponding increase in the share capital, in total EUR 11,829.12 was registered in the Finnish Trade Register on March 27, 2001. As a result of the increase, the share capital of Nokia currently is EUR 281,893,156.02 and the total number of shares is 4,698,219,267. Nokia received as additional shareholders' equity a total of EUR 636,230.37.

The holders of the new shares are entitled to all shareholders' rights from the registration date including the right to dividend for the fiscal year 2001. The new shares as well as the shares registered on February 7, 2001, will be listed on the Helsinki Exchanges together with the other shares on March 28, 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 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 (0) 7180 34459
Fax. +358 (0) 7180 38226
Email: communications.corporate@nokia.com

www.nokia.com