Nokia completed acquisition

Nokia Corporation
14 May 2003


Nokia completed acquisition of Eizel Technologies and increased
the share capital

On April 22, 2003, Nokia (NYSE: NOK) announced its intention to acquire Eizel
Technologies Inc., a Pittsburgh, Pennsylvania based privately held software
company.  The transaction was subject to customary closing conditions, and today
Nokia announced the completion of this acquisition as well as an increase of the
share capital and issuance of new shares.

The Board of Directors of Nokia Corporation has resolved to increase the share
capital of the Company by EUR 73 502.82, consisting of 1 225 047 new shares,
each share having a par value of EUR 0.06.  The shares were offered for the
subscription by the stockholders of Eizel Technologies Inc., and they were
payable with the common stock issued by Eizel Technologies Inc.  The
subscription price for the new shares was EUR 14.76 per share.

The increase of the share capital was resolved on the basis of the
authorizations given to the Board of Directors by the Annual General Meeting on
March 27, 2003, and it was registered in the Finnish Trade Register on May 14,
2003. As a result, the share capital of Nokia currently is EUR 287 777 547.6 and
the total number of shares is 4 796 292 460. Nokia received as additional
shareholders' equity EUR 18 081 693.72. Nokia has filed an application for
listing of the new shares on the Helsinki Exchanges together with the other
listed shares as of May 15, 2003. Listing of the shares will also be applied for
at the Frankfurt, London, Paris and Stockholm stock exchanges at a later time.

Eizel Technologies(TM) was founded in 2000 and focused on developing server-based
products that transform email messages, attachments, intranet applications and
web content into formats easily accessible by any mobile device on any network.

About Eizel Technologies

Eizel Technologies(TM) Inc. (www.eizel.com) employs advanced computer science
technologies, such as artificial intelligence, machine learning, pattern
recognition and natural language processing, to solve problems relating to
universal access to content. The company's highly scalable, low maintenance,
cutting edge solutions leapfrog traditional approaches dramatically reducing
costs while increasing the breadth of devices that can be used to access and
interact with online content.  Eizel(TM) secured USD $4 million in funding from
institutional and private investors in July 2002.  Founded in 2000 by scientists
from Carnegie Mellon Univeristy, Eizel(TM) currently employs 26 people.

About Nokia Internet Communications

Nokia Internet Communications, headquartered in Mountain View, California,
provides world-class Network Security, Virtual Private Network and Internet
Traffic Management solutions that ensure the security and reliability of
corporate enterprise and managed service provider networks.  Nokia is committed
to enhancing the end-user experience by bringing a new level of security and
reliability to the network, enabling an Internet transaction that is personal
and trusted each and every time.  For more information, please visit
www.nokia.com/securenetworksolutions.

Nokia Internet security and virtual private network appliances span the spectrum
of price/performance points and secure the widest range of network environments,
from the smallest branch office to the largest Internet data center.  The
expansive product line, backed by world-class global support and services,
provides customers the ability to deploy multiple solutions from a single
product to secure all elements of a distributed enterprise.

About Nokia

Nokia is the world leader in mobile communications. Backed by its experience,
innovation, user-friendliness and secure solutions, the company has become the
leading supplier of mobile phones and a leading supplier of mobile, fixed
broadband and IP networks. By adding mobility to the Internet, Nokia creates new
opportunities for companies and further enriches the daily lives of people.
Nokia is a broadly held company with listings on six major exchanges.


For further information:

Michael Cabot
Nokia Internet Communications
Tel. [phone]
[e-mail]

Nokia Corporate Communications
Tel. [phone]
[e-mail]

www.nokia.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange