Nokia - Changes in company's own shares

Changes in Nokia Corporation's own shares

Nokia Corporation                                                               
Stock exchange release                                                          
July 23 at 9.45 (CET+1)                                                         

Espoo, Finland - Based on previously announced decisions of the Board of        
Directors to issue shares held by the Company, 139 902 Nokia shares (NOK1V) held
by the Company are today transferred to approximately 300 participants of       
Nokia's equity-based incentive plans as settlement in accordance with the plan  
rules. The majority of the shares are delivered under the 2005 and 2006 Nokia   
Performance Share Plans.                                                        

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