Year 2000 Readiness Report

Nokia Corporation
1 February 2000

NOKIA                               Year 2000 Readiness Report  1(2)

                                    
Nokia Year 2000 Readiness Report

The Millennium shift and year-end activities 
for Year 2000 compliance

Nokia continued to implement its Year 2000 preparations during the
fourth quarter of 1999, and when the New Year arrived the
transition to the Year 2000 took place peacefully throughout
Nokia. To our knowledge, no unexpected issues arose in Nokia's
products, operations, information systems or research and
development systems. Nokia  monitored the turn of the Millennium
in all of its markets and in all major facilities. Examinations
did not reveal anything significant, and, based on information
received to date, all of Nokia's network equipment and mobile
terminals functioned well, although natural temporary congestion
occurred in some places during the peak hours.

Nokia production facilities were also assessed during the
Millennium weekend and no critical issues were discovered.
Production resumed after the New Year's celebrations in factories
according to the normal operational schedule, which had no special
Millennium break.

Year 2000 Leap Year
         
The leap year issue is an integral part of Nokia's Year 2000
project. Nokia will therefore closely monitor the leap day
developments globally applying the same processes and plans that
were implemented for the Millennium.

The Nokia Year 2000 Project will come to an end when the leap day
29 February 2000 has passed. Thereafter any Year 2000 issues will
be integrated into normal Nokia procedures and practices.

Costs

Nokia's total spending for the Year 2000 Project has been
according to plan approximately at EUR 75.7 million.

Currency rate December 31, 1999     1 EUR = 1.008 USD

The Nokia Year 2000 Readiness Report published on February 1, 2000
continues Nokia's quarterly reporting on Year 2000 issues and
updates the disclosures published on November 16, 1998, January
29, 1999, April 22, 1999,  July 22, 1999 and October 21, 1999.
Additional information regarding status and Actions taken within
the Nokia Year 2000 Project can be obtained from the previous
disclosures.

Further information:

Lauri Kivinen
Senior Vice President, Corporate Communications, Nokia
tel. [phone]
fax  [phone]

www.nokia.com