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Nokia Year 2000 Readiness Report
February 01, 2000
The Millennium shift and year-end activities for Year 2000 compliance
Nokia continued to implement its Year 2000 preparations during the fourth quarter of 1999, and when the New Year arrived the transition to the Year 2000 took place peacefully throughout Nokia. To our knowledge, no unexpected issues arose in Nokia's products, operations, information systems or research and development systems. Nokia monitored the turn of the Millennium in all of its markets and in all major facilities. Examinations did not reveal anything significant, and, based on information received to date, all of Nokia's network equipment and mobile terminals functioned well, although natural temporary congestion occurred in some places during the peak hours.
Nokia production facilities were also assessed during the Millennium weekend and no critical issues were discovered. Production resumed after the New Year's celebrations in factories according to the normal operational schedule, which had no special Millennium break.
Year 2000 Leap Year
The leap year issue is an integral part of Nokia's Year 2000 project. Nokia will therefore closely monitor the leap day developments globally applying the same processes and plans that were implemented for the Millennium.
The Nokia Year 2000 Project will come to an end when the leap day 29 February 2000 has passed. Thereafter any Year 2000 issues will be integrated into normal Nokia procedures and practices.
Costs
Nokia´s total spending for the Year 2000 Project has been according to plan approximately at EUR 75.7 million.
Currency rate December 31, 1999 1 EUR = 1.008 USD
The Nokia Year 2000 Readiness Report published on February 1, 2000 continues Nokia´s quarterly reporting on Year 2000 issues and updates the disclosures published on November 16, 1998, January 29, 1999, April 22, 1999, July 22, 1999 and October 21, 1999. Additional information regarding status and actions taken within the Nokia Year 2000 Project can be obtained from the previous disclosures.
Contact information:
Lauri Kivinen
Senior Vice President, Corporate Communications, Nokia
tel. +358 9 1807 495
fax +358 9 652 409
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