Share Subscription

NOKIA CORPORATION
9 September 1999


Nokia warrants exercised for share subscription

A total of 114,508 Nokia shares were subscribed for after the
previous increase in the share capital was registered on July
23, 1999. The shares were subscribed for with the warrants
attached to the bond loans issued to the key personnel of Nokia.
With the warrants of the 1994 bond loan 9,568 shares were
subscribed for, with the warrants of the 1995 bond loan 41,600
shares and with the warrants of the 1997 bond loan 63,340
shares. The issue of these bond loans was approved by the Annual
General Meetings of April 7, 1994, March 30, 1995 and March 25,
1997, respectively.

The corresponding increase in the share capital, in total EUR
27,481.92  was registered in the Finnish Trade Register on
September 9, 1999. As a result of the increase, the share
capital of Nokia is now EUR 291,143,355.84 and the total number
of shares is 1,213,097,316. Nokia received as additional
shareholders' equity in total EUR 1,149,093.05.

The holders of the new shares are entitled to all shareholders'
rights from the registration date. The new shares are listed at
the Helsinki Exchanges together with the old shares on September
10, 1999. Listing of the shares will also be applied for at the
Frankfurt, London, New York, Paris and Stockholm Stock
Exchanges.

The subscription for shares with the Nokia 1995 and 1997 bond
loans with warrants began in December 1997 and with the Nokia
1994 bond loan with warrants in December 1998.


Further information:

Nokia, Corporate Communications, tel. [phone]

www.nokia.com