Nokia - Corporate Action

Exercises with stock options of Nokia Corporation

Nokia Corporation                                                               
Stock exchange release                                                          
November 28, 2008 at 9.30 (CET +1)                                              

Exercises with stock options of Nokia Corporation                               

Espoo, Finland - Based on Nokia's 2003 employee stock option plan, 5 813 shares 
of Nokia Corporation were subscribed for between October 28, 2008 and November  
24, 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,     
November 28, 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 3 800 948 552, including  
the shares held by the company.                                                 

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