Nokia - Corporate Action

Exercises with stock options of Nokia Corporation

Nokia Corporation                                                               
Stock exchange release                                                          
May 14, 2008 at 8.30 (CET+1)                                                    

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.                                                 

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Email: press.services@nokia.com                                                 
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