Nokia Annual General Meeting

Nokia Corporation
27 March 2003

Nokia Annual General Meeting:

Dividend 0.28 € per share for 2002


The Annual General Meeting (AGM) of Nokia Corporation held on March 27, 2003
resolved to distribute a dividend of EUR 0.28 per share for 2002 as proposed by
the Board of Directors. The record date for the dividend payment is April 1,
2003 and the dividend will be paid as from April 16, 2003.


The AGM approved the Board's proposal for a new stock option plan, under which
Nokia key employees will be granted stock options entitling them to the
subscription of a total of 94.6 million shares. The stock options will be
divided into several sub-categories, the subscription periods of which will
commence, as resolved by the Board , with a staggered vesting schedule not
earlier than July 1, 2004 and terminate no later than December 31, 2009. The
share subscription prices will be determined by the Board based on the trade
volume weighted average price of the Nokia share on the Helsinki Exchanges
during a one-week period according to the sub-category of the stock option.


The AGM resolved to continue the existing authorizations held by the Board as
proposed. It authorized the Board of Directors to increase the share capital by
a maximum of EUR 57 million, disapplying the shareholders' pre-emptive right for
subscription. The AGM further authorized the Board to repurchase a maximum of
225 million Nokia shares by using funds available for distribution of profits,
and to dispose a maximum of 225 million Nokia shares held by the Company. The
authorizations are effective for a period of one year until March 27, 2004.

The AGM confirmed the number of Board members to be nine. All of the members of
the Nokia Board were re-elected for the period ending at the close of the next
Annual General Meeting: Paul J. Collins, Georg Ehrnrooth, Bengt Holmstrom, Per
Karlsson, Jorma Ollila, Robert F.W. van Oordt, Marjorie Scardino, Vesa Vainio
and Arne Wessberg.

In its assembly meeting, Nokia's Board of Directors re-elected CEO Jorma Ollila
to chair the Board.
Paul J. Collins was re-elected Vice Chairman of the Board.

The Board of Directors also elected the members of the Committees of the Board.
For the Personnel Committee, Paul J. Collins was elected as Chairman and Bengt
Holmstrom, Marjorie Scardino and Vesa Vainio as members. For the Audit
Committee, Robert F.W. van Oordt was elected as Chairman and Georg Ehrnrooth,
Per Karlsson and Arne Wessberg as members. For the Nomination Committee, Paul J.
Collins was elected as Chairman and Bengt Holmstrom, Marjorie Scardino and Vesa
Vainio as members.


PricewaterhouseCoopers Oy were re-elected as the external auditor of Nokia for
the fiscal period 2003.


Further information:

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

Email [e-mail]

www.nokia.com


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