Nokia applies for listing of stock options of the 1999 Plan on the main list of the Helsinki Exchanges

Nokia Board has resolved to apply for listing of the stock options of the Nokia Stock Option Plan 1999 on the main list of the Helsinki Exchanges to commence on or about

April 2, 2001 (stock options A),
April 1, 2002 (stock options B), and
April 1, 2003 (stock options C).

Each stock option category, A, B and C, comprises 12,000,000 stock options. Each stock option A entitles as of April 1, 2001 to subscribe for four Nokia shares at an aggregate subscription price of EUR 67.55. Each stock option B entitles as of April 1, 2002 to subscribe for four Nokia shares at an aggregate subscription price of EUR 225.12. Each stock option C entitles as of April 1, 2003 to subscribe for four Nokia shares at an aggregate subscription price to be determined on the basis of the trade volume weighted average price of the Nokia share on the Helsinki Exchanges during the last five trading days in March 2001. In the aggregate 144,000,000 Nokia shares may be subscribed for with the stock options of the 1999 Plan.

In connection with the listing, the stock options A, B and C of the 1999 Plan will be transferred into the book-entry system by April 1, 2001.

Due to the expansion of the 1999 Plan the number of participants, which in 1999 was approximately 5,000, will increase in 2000.

Further information:

Nokia Corporate Communications
Tel. +358 9 1807 485
Fax +358 9 652 409
Email: communications.corporate@nokia.com

www.nokia.com