Share repurchase plan

Nokia Corporation
27 March 2003

Nokia starts share repurchase plan with
maximum aggregate value of EUR 2 billion



Nokia Corporation will start a share repurchase plan. The Board of Directors has
resolved to use a maximum of EUR 2 billion for the repurchase plan, however, so
that a maximum of 225 million Nokia shares be purchased.



The shares will be repurchased on the basis of the authorization given by the
Annual General Meeting, effective until March 27, 2004. The shares will be
repurchased through public trading for purposes identified in the authorization.
Shares may be purchased by using certain derivative, share lending or other
arrangements, in which case the repurchase price paid by the Company may differ
from the market price of the day of execution of the arrangement. All shares,
however, are to be purchased at a price based on the market price of the Nokia
share in public trading.



The repurchases will be commenced on April 3, 2003 at the earliest.





Further information:

Nokia
Corporate Communications
Tel. [phone]
Fax. [phone]

Email [e-mail]

www.nokia.com




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