Nokia - Corporate Action

Changes in company's own shares

Espoo, Finland - Nokia has previously announced a decision of the Board to issue
a maximum number of 2 500 000 Nokia shares held by the Company. In line with the
decision the Company has today transferred 2 328 760 Nokia shares under Nokia   
Performance Share Plan 2005 to the participants, employees of Nokia Group. The  
interim settlement is made as the Company reached the predetermined financial   
criteria for the interim measurement period 2005 - 2006. The performance period 
of the Performance Share Plan 2005 will continue until the end of 2008.         

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