NOKIA (HEL:NOK) Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------


Nokia Corporation Stock exchange release October 31, 2008 at 9.30 (CET +1)

Espoo, Finland - Based on Nokia's 2003 employee stock option plan, 3 390 shares of Nokia Corporation were subscribed for between October 1, 2008 and October 27, 2008. 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, October 31, 2008. The shares are admitted to public trading on the NASDAQ OMX Helsinki Ltd as of the registration date together with the old Nokia share class (NOK1V).

After the registration, the total number of shares is 3 800 942 739, including the shares held by the company.

Media Enquiries:

Nokia Communications Tel. +358 7180 34900 Email: press.services@nokia.com

www.nokia.com

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NOKIA P.O. Box 226
FIN-00045 NOKIA GROUP Espoo

WKN: 870737; ISIN: FI0009000681; Index: DJ STOXX Large 200, DJ STOXX 50; Listed: Nordic list (Large Cap) in THE HELSINKI STOCK EXCHANGE;

NOKIA

http://www.nokia.fi/

ISIN: FI0009000681

Stock Identifier: XHEL.NOK

US: NYSE:NOK

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