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Nokia K-shares Converted to A-shares
January 29, 1997

Nokia Corporation's Articles of Association provide holders of K-shares the right to convert their holdings to A-shares.


For the entire period during which this conversion of shares has been permitted, through 29 January 1997, 68,293,530 K-shares have been converted to A-shares. The total amount of Nokia's shares today is 299,549,980 of which 203,340,446 are A-shares.



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