Exercise of Warrants

Nokia Corporation 8 February 2002 NOKIA STOCK EXCHANGE ANNOUNCEMENT February 8, 2002 Nokia warrants exercised for share subscription A total of 313,472 Nokia shares were subscribed for after the increase in the share capital registered on January 10, 2002. The shares were subscribed for with the A, B and C warrants 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 18,808.32 has been registered in the Finnish Trade Register on February 8, 2002. As a result of the increase, the share capital of Nokia is currently EUR 284,270,615.58 and the total number of shares is 4,737,843,593. Nokia received as additional shareholders' equity a total of EUR 1,011,534.96. The new shares subscribed for entitle their holders to dividend for the first time for the fiscal year 2002. The holders of the new shares are entitled to all other shareholders' rights from the registration date, February 8, 2002. However, the new shares will be listed on the Helsinki Exchanges together with the other shares no earlier than at the turn of March and April 2002. 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, for the B warrants in November 1999 and for C warrants in November 2001. The A, B and C warrants of the Nokia Stock Option Plan 1997 are listed on the Helsinki Exchanges as one security. Further information: Nokia Corporate Communications tel. +358 7180 34459 fax. + 358 7180 38226 email communications.corporate@nokia.com www.nokia.com This information is provided by RNS The company news service from the London Stock Exchange

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