RNS No 7577r
NOKIA CORPORATION
1st July 1997


UPM-KYMMENE'S VOTING RIGHTS IN RESPECT OF NOKIA SHARES REDUCED
TO LESS THAN 10 PER CENT

Nokia has been informed that the voting rights of UPM-Kymmene
Corporation in respect of Nokia shares have been changed. The
company's portion of the voting rights has been reduced to less
than 10 per cent due to a conversion of shares.

With reference to section 2, paragraph 10 of the Securities Market
Act and the relevant decision by the Ministry of Finance, Nokia is
reporting that the voting rights of UPM-Kymmene Corporation in
respect of Nokia shares was reduced to 7.14 per cent on June 30,
1997. Consequently UPM-Kymmene Corporation's percentage of shares
and voting rights by share type was divided as follows:

K shares  7,119,984 = 2.38 per cent of shares and 6.71 per cent of votes

A shares  4,529,720 = 1.51 per cent of shares and 0.43 per cent of votes

Total    11,649,704 = 3.89 per cent of shares and 7.14 per cent of votes

In addition UPM-Kymmene has announced that its holding of Nokia
shares will be reduced due to a transaction to be finalized on
July 1, 1997. UPM-Kymmene sells 4,500,000 A shares which decreases
the number of Nokia shares held by UPM-Kymmene to 2.39 per cent
and of the corresponding voting rights to 6.71 per cent.

For more information, please contact:

Lauri Kivinen, Senior Vice President, Corporate Communications, Nokia
Tel. +358 9 1807 495

http://www.nokia.com

END