Nokia warrants exercised for share subscription


A total of 513,600 Nokia shares were subscribed for after the increase in the share capital registered on May 7, 2001. The shares were subscribed for with the warrants under the Nokia Stock Option Plans issued to the key personnel of Nokia. With the A and B warrants of the Nokia Stock Option Plan 1997, a total of 502,000 shares were subscribed for and with the A warrants of the Nokia Stock Option Plan 1999, a total of 11,600 shares. The Stock Option Plans were approved by the Annual General Meetings of March 25, 1997 and March 17, 1999, respectively.

The corresponding increase in the share capital, in total EUR 30,816.00, has been registered in the Finnish Trade Register on May 23, 2001. As a result of the increase, the share capital of Nokia is currently EUR 281,935,919.10 and the total number of shares is 4,698,931,985. Nokia received as additional shareholders' equity a total of EUR 1,815,902.13.

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 May 25, 2001. 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 A warrants of the Nokia Stock Option Plan 1997 began in December 1997 and for the B warrants in November 1999. The subscription period for the A warrants of the Nokia Stock Option Plan 1999 began in April 2001. The A and B warrants of the Nokia Stock Option Plan 1997 are listed on the Helsinki Exchanges as one security.

The share subscription price for one 2001A and 2001B warrant of the Nokia Stock Option Plan 2001 was confirmed to be EUR 36.75, which is the trade volume weighted average price of the Nokia share on the Helsinki Exchanges from May 7 to May 11, 2001. Each 2001A and 2001B warrant of the 2001 Plan entitles its holder to subscribe for one Nokia share with a par value of EUR 0.06 for the subscription price of EUR 36.75. The subscription period for 2001A warrants begins on July 1, 2002 and ends on December 31, 2006. The 2001B warrants have been divided into twelve subcategories of equal size (2001B1 - 2001B12). The subscription period for 2001B warrants begins in each subcategory on a quarterly basis beginning on October 1, 2002 until
July 1, 2005. The subscription period for all the 2001B warrants ends on December 31, 2006.

Further information:

Nokia
Corporate Communications
Tel. +358 (0) 7180 34459
Fax. +358 (0) 7180 38226
Email communications.corporate@nokia.com

www.nokia.com