Nokia - Company Announcement

Expiration date of Nokia's public buy-out offer for Alcatel-Lucent securities extended following a legal action against AMF clearance decision; squeeze-out to follow completion of public buy-out offer

Nokia Corporation
Stock Exchange Release
October 4, 2016 at 17:30 (CET +1)

Expiration  date of Nokia's  public buy-out offer  for Alcatel-Lucent securities
extended following a legal action against AMF clearance decision; squeeze-out to
follow completion of public buy-out offer

Espoo,  Finland  -  The  French  stock  market  authority  (Autorité des marchés
financiers,  "AMF") announced  today that  a legal  action was  filed before the
Paris Court of Appeal on September 30, 2016 for annulment of the AMF's clearance
decision  regarding Nokia's public  buy-out offer (the  "Public Buy-Out Offer"),
which  would be followed by a  squeeze-out (the "Squeeze-Out", together with the
Public  Buy-Out offer,  the "Offer"),  for all  remaining securities of Alcatel-
Lucent.  Consequently, the Public Buy-Out Offer period is extended until further
notice  and the Squeeze-Out, which had  been scheduled for October 6, 2016, will
take place once the public buy-out offer is completed.

Nokia  is now awaiting details  of the legal action,  and the AMF will publish a
further notice with a new timetable in due course. Nokia believes that the Offer
complies  with all applicable laws and regulations and expects that, unfortunate
delay aside, the legal action will not have a material impact on its acquisition
of the remaining outstanding securities of Alcatel-Lucent.

Documentation  relating to the Offer,  which includes Nokia and Alcatel-Lucent's
joint  offer document  (note d'information  conjointe) and  Nokia's and Alcatel-
Lucent's  respective  "other  information"  documents,  is  available on the AMF
website         (www.amf-france.org),         on         Nokia's         website
(http://company.nokia.com/en/investors/financial-reports/filings-related-to-the-
alcatel-lucent-transaction),  and  on  Alcatel-Lucent's  website  (www5.alcatel-
lucent.com).

Media Enquiries:
Nokia

Communications
Tel. +358 (0) 10 448 4900
Email: press.services@nokia.com

Investor Enquiries:
Nokia
Investor Relations
Tel. +358 4080 3 4080
Email: investor.relations@nokia.com

About Nokia
Nokia  is a global  leader in the  technologies that connect  people and things.
Powered by the innovation of Nokia Bell Labs and Nokia Technologies, the company
is  at  the  forefront  of  creating  and  licensing  the  technologies that are
increasingly at the heart of our connected lives.

With  state-of-the-art software, hardware and services  for any type of network,
Nokia   is   uniquely   positioned  to  help  communication  service  providers,
governments,  and large enterprises deliver on  the promise of 5G, the Cloud and
the Internet of Things. www.nokia.com

Microsite details
Further information on the transaction can be found at: www.newconnectivity.com

NOT  FOR RELEASE, PUBLICATION  OR DISTRIBUTION IN  WHOLE OR IN  PART IN, INTO OR
FROM  ANY  JURISDICTION  WHERE  TO  DO  SO  WOULD  CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

FORWARD-LOOKING STATEMENTS

This  stock exchange  release contains  forward-looking statements  that reflect
Nokia's  current expectations and views of  future events and developments. Some
of  these forward-looking statements can be identified by terms and phrases such
as "will", "believe", "confident" and similar expressions. These forward-looking
statements include statements relating to: the legal action for annulment of the
AMF's clearance decision filed before the Court of appeal of Paris, the expected
timetable  of  the  Offer,  including  the  expected  implementation date of the
Squeeze-Out  and Nokia's views  with respect to  the Offer's compliance with all
applicable  laws  and  regulations  and  the  outcome of the legal action. These
forward-looking  statements are subject to a  number of risks and uncertainties,
many of which are beyond our control, which could cause actual results to differ
materially  from such statements. These  forward-looking statements are based on
our  beliefs, assumptions  and expectations  of future  performance, taking into
account  the information  currently available  to us.  These statements are only
predictions  based upon our current expectations  and views of future events and
developments.  Risks and uncertainties  include: AMF's regulation  of the Offer,
the  contents of the legal action (which has not yet been reviewed by Nokia) and
the  possibility of its success on the  merits (partial or otherwise) as well as
other  risk factors  listed from  time to  time in  Nokia's and Alcatel-Lucent's
filings with the U.S. Securities and Exchange Commission ("SEC").

The  forward-looking statements  should be  read in  conjunction with  the other
cautionary  statements  that  are  included  elsewhere,  including  Nokia's  and
Alcatel-Lucent's  most recent annual reports on  Form 20-F, reports furnished on
Form  6-K, and any other documents that  Nokia or Alcatel-Lucent have filed with
the  SEC. Any forward-looking statements made in this stock exchange release are
qualified  in their entirety by these cautionary statements, and there can be no
assurance  that the  actual results  or developments  anticipated by  us will be
realized  or, even if  substantially realized, that  they will have the expected
consequences  to, or  effects on,  us or  our business  or operations. Except as
required  by law, we  undertake no obligation  to publicly update  or revise any
forward-looking  statements,  whether  as  a  result  of new information, future
events or otherwise.

IMPORTANT ADDITIONAL INFORMATION
This  stock exchange release relates to Nokia's Public Buy-Out Offer followed by
a  Squeeze-Out for all  of the ordinary  shares and OCEANE  convertible bonds of
Alcatel-Lucent.  This stock exchange release  is for informational purposes only
and  does not constitute an offer to  purchase or exchange, or a solicitation of
an offer to sell or exchange, any ordinary shares or OCEANE convertible bonds of
Alcatel-Lucent,  nor is  it a  substitute for  Nokia and  Alcatel-Lucent's joint
offer  document (note  d'information conjointe)  filed by  Nokia with, and which
received  visa No.  16-438 from the  AMF on  September 20, 2016 (as  amended and
supplemented  from time to time, the "Offer Document"). The Public Buy-Out Offer
followed by a Squeeze-Out is being made only through the Offer Document.

INVESTORS  AND SECURITY  HOLDERS ARE  URGED TO  READ THE  OFFER DOCUMENT AND ALL
OTHER RELEVANT DOCUMENTS THAT NOKIA OR ALCATEL-LUCENT MAY FURNISHED OR FILE WITH
THE  SEC  OR  AMF  WHEN  THEY  BECOME  AVAILABLE  BECAUSE THEY CONTAIN IMPORTANT
INFORMATION  THAT INVESTORS AND  SECURITY HOLDERS SHOULD  CONSIDER BEFORE MAKING
ANY DECISION REGARDING THE PUBLIC BUY-OUT OFFER FOLLOWED BY A SQUEEZE-OUT.

The  information contained in this stock exchange release must not be published,
released  or distributed, directly or indirectly,  in any jurisdiction where the
publication,  release or distribution of such  information is restricted by laws
or  regulations.  Therefore,  persons  in  such  jurisdictions  into which these
materials  are published, released  or distributed must  inform themselves about
and comply with such laws or regulations. Nokia and Alcatel-Lucent do not accept
any responsibility for any violation by any person of any such restrictions.

The  Offer Document and other documents referred to above, if furnished by Nokia
or  Alcatel-Lucent with the SEC,  will be available free  of charge at the SEC's
website (www.sec.gov).

Nokia  and Alcatel-Lucent's joint offer  document (note d'information conjointe)
which  received from  the AMF  the visa  No. 16-438 date  September 20, 2016 and
contains  detailed information with regard to  the Public Buy-Out Offer followed
by  a Squeeze-Out,  as well  as Nokia's  and Alcatel-Lucent's  respective "other
information"  documents  relating  in  particular  to their legal, financial and
accounting  characteristics, are available on  the websites of the AMF (www.amf-
france.org), Nokia (www.nokia.com) and Alcatel-Lucent (www.alcatel-lucent.com).


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