NOKIA (HEL:NOK) Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------


Nokia Corporation Stock exchange release October 22, 2008 at 13.15 (CET+1)

Espoo, Finland - The Nokia Board of Directors has resolved to issue 2 110 000 Nokia shares (NOK1V) held by the Company as settlement under the Nokia's equity based incentive plans to the plan participants.

Based on the above decision and previously announced decisions of the Board of Directors to issue shares held by the Company, 1 367 176 Nokia shares held by the Company are today transferred to participants of Nokia's equity based incentive plans as settlement under the plans.

Media Enquiries:

Nokia Communications Tel. +358 7180 34900 Email: press.services@nokia.com

www.nokia.com

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NOKIA P.O. Box 226
FIN-00045 NOKIA GROUP Espoo

WKN: 870737; ISIN: FI0009000681; Index: DJ STOXX Large 200, DJ STOXX 50; Listed: Nordic list (Large Cap) in THE HELSINKI STOCK EXCHANGE;

NOKIA

http://www.nokia.fi/

ISIN: FI0009000681

Stock Identifier: XHEL.NOK

US: NYSE:NOK

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