RNS Number:4414W
Nokia Corporation
28 December 2000


Nokia warrants exercised for share subscription

A total of 1,325,552 Nokia shares were subscribed for after the
increase in the share capital registered on December 7, 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
A warrants of the Nokia Stock Option Plan 1995, a total of 164,800
shares were subscribed for, with the B warrants of the same Plan
653,392 shares and with the A and B warrants of the Nokia Stock
Option Plan 1997, a total of 507,360 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 79,533.12 was registered in the Finnish Trade Register on
December 28, 2000. As a result of the increase, the share capital
of Nokia currently is EUR 281,659,713.78 and the total number of
shares is 4,694,328,563. Nokia received as additional
shareholders' equity a total of EUR 3,082,209.59.

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
December 29, 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 A warrants of the Nokia Stock
Option Plan 1995 began in  December 1997 and for the B warrants 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.

The subscription period of both A and B warrants of the Nokia
Stock Option Plan 1995 comes to an end on January 31, 2001 and the
listing of the B warrants on the Helsinki Exchanges terminates
prior to that date.

Further information:

Nokia
Corporate Communications
Tel. +358 9 1807 424
Fax  +358 9 652 409


www.nokia.com



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