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NOKIA PROMOTES OLLILA TO CHAIRMAN

HELSINKI-Nokia Corp.’s board of directors elected Nokia’s Chief Executive Officer Jorma
Ollila chairman, and Iiro Viinanen vice chairman.

Ollila joined Nokia in 1985, became president and CEO in 1992,
and has been a member of the board of directors since 1994. He will hand the presidency over to Pekka Ala-Pietila, the
current deputy CEO. Ala-Pietila joined Nokia in 1984, presided as president of Nokia Mobile Phones from 1992 to
1998, and became deputy CEO and president of Nokia Communications Products in 1998.

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