Share Subscription

Nokia Corporation
7 February 2000


NOKIA                  PRESS RELEASE                    1 (1)   
                       February 7, 2000

Nokia warrants exercised for share subscription

A total of 183,360 Nokia shares were subscribed for after the
increase in the share capital registered on January 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 1995 Stock Option Plan 34,800 shares
were subscribed for,  with the B warrants of the 1995 Stock
Option Plan 91,600 shares and with the warrants of the 1997
Stock Option Plan 56,960 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
44,006.40 was registered in the Finnish Trade Register on
February 7, 2000. As a result of the increase, the share capital
of Nokia currently is EUR 279,287,838.24 and the total number of
shares is 1,163,699,326. Nokia received as additional
shareholders' equity a total of EUR 1,628,139.85.

The new shares subscribed for entitle their holders to dividend
for the first time for the fiscal year 2000. 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 2000. Listing of the shares
will then be applied for also 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]
E-mail: [e-mail]

www.nokia.com