Nokia Extraordinary General Meeting 2013 Confirms And Approves The Sale Of Substantially All Of Nokia's Devices & Services Business To Microsoft

ESPOO, Finland, Nov. 19, 2013 (GLOBE NEWSWIRE) --
Nokia CorporationStock exchange releaseNovember 19, 2013 at 19.06 (CET +1)Espoo, Finland -The Extraordinary General Meeting of Nokia Corporation held onNovember 19, 2013 ("EGM") decided to confirm and approve the sale ofsubstantially all of Nokia's Devices & Services business to Microsoft in linewith the proposal and recommendation of the Nokia Board of Directors. More than99 % of the votes cast at the EGM were in favor of this proposal."This is a significant step forward for Nokia. We are delighted thatshareholders have given us overwhelmingly strong support to proceed with thistransformative agreement," said Nokia Board Chairman and interim CEO, RistoSiilasmaa. "Today's vote brings us closer to completing a transaction which willmark the beginning of the next chapter in Nokia's near 150-year history,offering the potential of greater value for shareholders," he said.The transaction is expected to close in the first quarter of 2014, subject toregulatory approvals and other customary closing conditions. The transaction wasoriginally announced on September 3, 2013. Further information on thetransaction has been included in Nokia's releases concerning the transaction andthe EGM dated September 3, September 19 and October 14, 2013 as well as theproxy materials that were made available ahead of the EGM.FORWARD-LOOKING STATEMENTSIt should be noted that Nokia and its business are exposed to various risks anduncertainties and certain statements herein that are not historical facts areforward-looking statements, including, without limitation, those regarding: A)the planned sale by Nokia of substantially all of Nokia's Devices & Servicesbusiness, including Smart Devices and Mobile Phones (referred to below as "Saleof the D&S Business") pursuant to the Stock and Asset Purchase Agreement, datedas of September 2, 2013, between Nokia and Microsoft International HoldingsB.V.(referred to below as the "Agreement"); B) the closing of the Sale of theD&S Business; C) receiving timely, if at all, necessary regulatory approvals forthe Sale of the D&S Business; D) expectations, plans or benefits related to orcaused by the Sale of the D&S Business; E) expectations, plans or benefitsrelated to Nokia's strategies, including plans for Nokia with respect to itscontinuing businesses that will not be divested in connection with the Sale ofthe D&S Business; F) expectations, plans or benefits related to changes inleadership and operational structure; G) expectations and targets regarding ouroperational priorities, financial performance or position, results of operationsand use of proceeds from the Sale of the D&S Business; and H) statementspreceded by "believe," "expect," "anticipate," "foresee," "sees," "target,""estimate," "designed," "aim", "plans," "intends," "focus," "will" or similarexpressions. These statements are based on management's best assumptions andbeliefs in light of the information currently available to it. Because theyinvolve risks and uncertainties, actual results may differ materially from theresults that we currently expect. Factors, including risks and uncertaintiesthat could cause these differences include, but are not limited to: 1) theinability to close the Sale of the D&S Business in a timely manner, or at all,for instance due to the inability or delays in obtaining necessary regulatoryapprovals for the Sale of the D&S Business, or the occurrence of any event,change or other circumstance that could give rise to the termination of theAgreement; 2) the potential adverse effect on the sales of our mobile devices,business relationships, operating results and business generally  resulting fromthe announcement of the Sale of the D&S Business or from the terms that we haveagreed for the Sale of the D&S Business; 3) any negative effect from theimplementation of the Sale of the D&S Business, as we may forego othercompetitive alternatives for strategies or partnerships that would benefit ourDevices & Services business and if the Sale of the D&S Business is not closed,we may have limited options to continue the Devices & Services  business orenter into another transaction on terms favorable to us, or at all; 4) ourability to effectively and smoothly implement planned changes to our leadershipand operational structure or maintain an efficient interim governance structureand preserve or hire key personnel; 5) any negative effect from theimplementation of the Sale of the D&S Business, including our internalreorganization in connection therewith, which will require significant time,attention and resources of our senior management and others within the companypotentially diverting their attention from other aspects of our business; 6)disruption and dissatisfaction among employees caused by the plans andimplementation of the Sale of the D&S Business reducing focus and productivityin areas of our business; 7) the amount of the costs, fees, expenses and chargesrelated to or triggered by the Sale of the D&S Business; 8) any impairments orcharges to carrying values of assets or liabilities related to or triggered bythe Sale of the D&S Business; 9) potential adverse effects on our business,properties or operations caused by us implementing the Sale of the D&S Business;10) the initiation or outcome of any legal proceedings, regulatory proceedingsor enforcement matters that may be instituted against us relating to the Sale ofthe D&S Business, as well as the risk factors specified on pages 12-47 ofNokia's annual report on Form 20-F for the year ended December 31, 2012 underItem 3D. "Risk Factors." and risks outlined in our interim report issued onOctober 29, 2013. Other unknown or unpredictable factors or underlyingassumptions subsequently proving to be incorrect could cause actual results todiffer materially from those in the forward-looking statements. Nokia does notundertake any obligation to publicly update or revise forward-lookingstatements, whether as a result of new information, future events or otherwise,except to the extent legally required.About NokiaNokia is a global leader in mobile communications whose products have become anintegral part of the lives of people around the world. Every day, more than 1.3billion people use their Nokia to capture and share experiences, accessinformation, find their way or simply to speak to one another. Nokia'stechnological and design innovations have made its brand one of the mostrecognized in the world. For more information, visit http://www.nokia.com/about-nokia.Media Enquiries:NokiaCommunicationsTel. +358 7180 34900Email: press.services@nokia.comwww.nokia.com[HUG#1744331]

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