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Nokia Corporation
21 March 2001


NOKIA                      PRESS RELEASE March 21, 2001


Nokia Annual General Meeting decided
on a dividend of EUR 0.28 per share

The Annual General Meeting (AGM) of Nokia Corporation held on
March 21, 2001 resolved to distribute a dividend of EUR 0.28 per
share for 2000 as proposed by the Board of Directors. The record
date for the dividend is March 26  and the dividend will be paid
in Finland as of April 3, 2001.

The following persons were elected to the Nokia Board of
Directors: Paul Collins, Georg Ehrnrooth, Bengt Holmstrom, Jorma
Ollila, Robert van Oordt, Marjorie Scardino, Vesa Vainio and Arne
Wessberg.

The AGM approved the Board's proposals to amend the Articles of
Association so that the right for a minimum dividend related to
the par value of the share be abolished, that the Company may hold
General Meetings also in Espoo, and that the last date to give a
prior notice of attendance to the General Meeting is no more than
ten days prior to the Meeting.

The AGM approved the Board's proposal for a new stock option plan,
under which Nokia key personnel will be granted a total of 145
million stock options. The stock options will be divided into
several sub-categories as provided in the terms and conditions for
the stock option plan. Each stock option entitles to subscribe for
one Nokia share with a nominal value of 6 cents. The share
subscription period will commence, based on the sub-category, no
earlier than July 1, 2002 and terminate no later than June 30,
2008. The share subscription price will be determined on the basis
of the trade volume weighted average price of Nokia share on the
Helsinki Exchanges during a specific period determined according
to the sub-category of the stock option. An aggregate maximum of
145 million shares can be subscribed for under this stock option
plan.

The AGM also approved the Board's proposal to authorize the Board
of Directors to resolve to increase the share capital through
issuance of new shares, stock options or convertible bonds. The
share capital may be increased by a maximum of EUR 54 million, of
which the increase resulting from share subscriptions pursuant to
stock options may be a maximum of EUR 2.82 million. The AGM
further approved the Board's proposal to authorize the Board to
resolve to repurchase a maximum of 225 million Nokia shares by
using funds available for distribution of profits, and to transfer
of maximum of 225 million Nokia shares held by the Company. The
authorizations are effective from March 23, 2001 to March 21,
2002.

In addition, the AGM approved the proposal by the Board of
Directors to reduce the share capital through cancellation of 68
950 Nokia shares held by the Company, corresponding to
approximately 0,001 per cent of all the shares outstanding. The
share capital will be reduced with EUR 4 137 by transferring the
said amount from the share capital to the share issue premium. The
shareholders' equity of the Company will not be reduced.


Further information:

Nokia Corporate Communications
Tel. +358 (0) 7180 34424
Fax +358 (0) 7180 38226
E-mail: communications.corporate@nokia.com

www.nokia.com

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