Subscription of Shares,etc

Nokia Corporation
3 March 2000


Nokia increases the share capital in connection
with the acquisition of Network Alchemy, Inc.

The Board of Directors of Nokia Corporation has resolved to
increase the share capital of the Company by EUR 366,704.40,
consisting of 1,527,935 new shares, with the nominal value of EUR
0.24 each, for the subscription price of EUR 199.6523 per share.
The new Nokia shares will be offered for the subscription by the
shareholders of Network Alchemy, Inc. and they are payable with
the shares issued by Network Alchemy, Inc. The subscription period
is March 6 - 7, 2000. The subscriptions shall be paid no later
than March 7, 2000. The shares do not entitle to dividend to be
distributed out of the profits of 1999.

The shares are used to acquire Network Alchemy, Inc., a
Californian company, which constitute important financial grounds
to deviate from the shareholders' pre-emptive rights to subscribe
for new shares.

The increase of the Nokia share capital was resolved on the basis
of the authorization given to the Board of Directors by the Annual
General Meeting on March 17, 1999.

Further information:

Nokia Corporate Communications
Tel. [phone]
Fax [phone]
E-mail: [e-mail]