The pensions of around 20,000 current and retired employees of Nokia to Ilmarinen

The Board of Nokia Pension Foundation has today decided to transfer Nokia´s employees’ statutory earnings-related pensionliability to Ilmarinen as of 1st of March, 2008. From that date Ilmarinen will insure the pension benefits for Nokia’s 15,000 employees and 5,000 retired employees.

Ilmarinen’s CEO Harri Sailas considers the transfer to be a great display of trust towards Ilmarinen’s operations.

“We are really delighted about Nokia’s decision and we will do our best to beworthy of the trust.”

After the transaction Nokia will be llmarinen´s biggest client and the pension liabilities of Ilmarinen will increase by EUR 900 million.

Ilmarinen Mutual Pension Insurance Company

Corporate Communications

Please read in addition

Nokia´s press release

For moreinformation, pleasecontact:

• Harri Sailas, CEO, tel. + 358 10 284 3000
  
• Sini Kivihuhta, Senior Vice President, Client Relations, tel. + 388 10 284 2252 or + 358 50 511 2467
  
• Satu Mehtälä, Senior Vice President, Corporate Communications, tel. 010 284 3590 or + 358 50 539 8590