Nokia warrants exercised

Nokia Corporation
28 April 2000


Nokia warrants exercised for share subscription

A total of 4,173,744 Nokia shares were subscribed for after the
four-for-one stock split, e.g. amendment of the par value of the
Nokia share to 6 cents, effective in public trading on April 10,
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 99,200 shares were subscribed for, with the B
warrants of the same plan Plan 2,938,384 shares and with the A
and B warrants of the Nokia Stock Option Plan 1997, a total of
1,136,160 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 250,424.64 was registered in the Finnish Trade Register on
April 28, 2000. As a result of the increase, the share capital
of Nokia currently is EUR 280,635,590.64 and the total number of
shares is 4,677,259,844. Nokia received as additional
shareholders' equity a total of EUR 9,030,800.59.

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 May
2, 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.

Further information:

Nokia Corporate Communications,
Tel. [phone]
Fax [phone]
Email [e-mail]

www.nokia.com