Nokia warrants exercised for share subscription

The corresponding increase in the share capital, in total EUR 730,623.36 was registered in the Finnish Trade Register on March 28, 2000. As a result of the increase, the share capital of Nokia currently is EUR 280,385,166.00 and the total number of shares 1,168,271,525. Nokia received as additional shareholders' equity a total of EUR 25,809,576.28.

The holders of the new shares are entitled to all the shareholders' rights from the registration date, and they entitle to dividend for the first time for the fiscal year 2000. The new shares are listed on the Helsinki Exchanges together with the other shares on March 29, 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 as one security.