Warrants Exercised, etc

Nokia Corporation
25 August 2000


Nokia warrants exercised for share subscription

A total of 525,904 Nokia shares were subscribed for after the
increase in the share capital registered on July 28, 2000. The
shares were subscribed for with the warrants attached to the Nokia
Stock Option Plans issued to the key personnel of Nokia. With the
B warrants of the Nokia Stock Option Plan 1995, a total of 355,120
shares were subscribed for and with the A and B warrants of the
Nokia Stock Option Plan 1997, a total of 170,784 shares. The issue
of these Stock Option Plans was approved by the Annual General
Meetings of March 30, 1995 and March 25, 1997, respectively.

The corresponding increase in the share capital, in total
EUR 31,554.24 was registered in the Finnish Trade Register on
August 25, 2000. As a result of the increase, the share capital of
Nokia currently is EUR 281,051,097.84 and the total number of shares
is 4,684,184,964. Nokia received as additional shareholders' equity
a total of EUR 1,178,270.46.

The holders of the new shares are entitled to all shareholders'
rights from the registration date. The new shares will be listed
on the Helsinki Exchanges together with the other shares on
August 28, 2000. Listing of the shares will also be applied for
on the Frankfurt, London, New York, Paris and Stockholm
Stock Exchanges.

The subscription period for the B warrants of the Nokia Stock
Option Plan 1995 began in December 1999. The subscription period
for the A warrants of the Nokia Stock Option Plan 1997 began in
December 1997 and for the B warrants in November 1999. The A and B
warrants of the Nokia Stock Option Plan 1997 are listed on the
Helsinki Exchanges as one security.


Further information:

Nokia Corporate Communications
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www.nokia.com