Nokia Stock Options Exercised

Nokia Corporation
13 February 2003


Nokia Stock Options Exercised For Share Subscription



A total of 7,160,272 Nokia shares were subscribed for after the increase in the
share capital registered on January 13, 2003. The shares were subscribed for
with the A, B and C stock options of the Nokia Stock Option Plan 1997   issued
to the key personnel of Nokia. The Stock Option Plan was approved by the Annual
General Meeting of March 25, 1997.



The corresponding increase in the share capital, in total EUR 429,616.32 has
been registered in the Finnish Trade Register on February 13, 2003. As a result
of the increase, the share capital of Nokia is currently EUR 287,704,044.78 and
the total number of shares is 4,795,067,413. Nokia received as additional
shareholders' equity a total of EUR 23,105,302.71.



The new shares subscribed for entitle their holders to dividend for the first
time for the fiscal year 2003. The holders of the new shares are entitled to all
other shareholders' rights from the registration date, February 13, 2003.
However, the new shares will be listed on the Helsinki Exchanges together with
the other shares no earlier than in the beginning of April 2003. 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 stock options of the Nokia Stock Option Plan
1997 began in December 1997, for the B stock options in November 1999 and for
the C stock options in November 2001. Subsequently, the share subscription
period began for the A stock options of the Nokia Stock Option Plan 1999 in
April 2001 and for the B stock options in April 2002, for the 2001AB stock
options of the Nokia Stock Option Plan 2001 in July 2002, for the 2001C 3Q/01
stock options in October 2002 and for the 2001C 4Q/01 stock options in January
2003.



The subscription period of A, B and C stock options of the Nokia Stock Option
Plan 1997 ended on January 31, 2003.



Further information:



Nokia

Corporate Communications
Tel. [phone]
Fax. + 358 (0) 7180 38226
www.nokia.com




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