Result of AGM

Nokia Corporation 21 March 2001 NOKIA PRESS RELEASE March 21, 2001 Nokia Annual General Meeting decided on a dividend of EUR 0.28 per share The Annual General Meeting (AGM) of Nokia Corporation held on March 21, 2001 resolved to distribute a dividend of EUR 0.28 per share for 2000 as proposed by the Board of Directors. The record date for the dividend is March 26 and the dividend will be paid in Finland as of April 3, 2001. The following persons were elected to the Nokia Board of Directors: Paul Collins, Georg Ehrnrooth, Bengt Holmstrom, Jorma Ollila, Robert van Oordt, Marjorie Scardino, Vesa Vainio and Arne Wessberg. The AGM approved the Board's proposals to amend the Articles of Association so that the right for a minimum dividend related to the par value of the share be abolished, that the Company may hold General Meetings also in Espoo, and that the last date to give a prior notice of attendance to the General Meeting is no more than ten days prior to the Meeting. The AGM approved the Board's proposal for a new stock option plan, under which Nokia key personnel will be granted a total of 145 million stock options. The stock options will be divided into several sub-categories as provided in the terms and conditions for the stock option plan. Each stock option entitles to subscribe for one Nokia share with a nominal value of 6 cents. The share subscription period will commence, based on the sub-category, no earlier than July 1, 2002 and terminate no later than June 30, 2008. The share subscription price will be determined on the basis of the trade volume weighted average price of Nokia share on the Helsinki Exchanges during a specific period determined according to the sub-category of the stock option. An aggregate maximum of 145 million shares can be subscribed for under this stock option plan. The AGM also approved the Board's proposal to authorize the Board of Directors to resolve to increase the share capital through issuance of new shares, stock options or convertible bonds. The share capital may be increased by a maximum of EUR 54 million, of which the increase resulting from share subscriptions pursuant to stock options may be a maximum of EUR 2.82 million. The AGM further approved the Board's proposal to authorize the Board to resolve to repurchase a maximum of 225 million Nokia shares by using funds available for distribution of profits, and to transfer of maximum of 225 million Nokia shares held by the Company. The authorizations are effective from March 23, 2001 to March 21, 2002. In addition, the AGM approved the proposal by the Board of Directors to reduce the share capital through cancellation of 68 950 Nokia shares held by the Company, corresponding to approximately 0,001 per cent of all the shares outstanding. The share capital will be reduced with EUR 4 137 by transferring the said amount from the share capital to the share issue premium. The shareholders' equity of the Company will not be reduced. Further information: Nokia Corporate Communications Tel. +358 (0) 7180 34424 Fax +358 (0) 7180 38226 E-mail: communications.corporate@nokia.com www.nokia.com

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Nokia OYJ (0HAF)
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