Exercises with stock options of Nokia Corporation

Espoo, Finland – Based on Nokia’s 2003 and 2005 employee stock option plans, 221 819 shares of Nokia Corporation were subscribed for between April 1, 2008 and May 7, 2008 and between January 2, 2008 and March 31, 2008 2 518 692 shares as previously announced. The total amount of subscription prices will be recorded in the fund for invested non-restricted equity.

The new shares carry full shareholder rights as from the registration date, May 14, 2008. The shares are admitted to public trading on the OMX Nordic Exchange Helsinki as of the same date together with the old Nokia share class (NOK1V).

After the registration, the total number of shares is 3 800 142 555, including the shares held by the company.