Nokian Renkaat - Corporate Action

SHARES SUBSCRIBED WITH OPTION RIGHTS; NOKIAN TYRES PLC

Nokian Tyres plc Stock Exchange Announcement May 21,2007 2.00 pm                

SHARES SUBSCRIBED WITH OPTION RIGHTS; NOKIAN TYRES PLC                          

After February, 22nd 2007 registered increase in share capital a total of 60,600
Nokian Tyres plc's shares have been subscribed with the 2001A option rights,    
77,400 with the 2001B option rights, 128,850 with the 2001C option rights,      
21,310 with the 2004A option rights and 48,520 with the option rights 2004B.    
These option rights are attached to the Nokian Tyres plc's Option Programs of   
2001 and 2004.                                                                  

An increase in share capital totalling 67,336 euros was entered into the Trade  
Register on May 21st, 2007.                                                     

The shares will be traded on the Helsinki Exchanges together with the old shares
as of May 22nd, 2007.                                                           

Identifiers of Nokian Tyres plc's share after the increase in share capital:    

Trading code: NRE1V                                                             
ISIN code: FI0009005318                                                         
Number of shares: 122,989,620                                                   

After the increase, Nokian Tyres plc's share capital is 24,597,924.00           
euros.                                                                          

Nokian Tyres plc                                                                

Raila Hietala-Hellman                                                           
Vice President, Corporate Communications