HELSINKI, Finland -- At a ceremony today in Helsinki, Finland witnessed by Chinese Premier Mr. Wen Jiabao and Finnish Premier Mr. Matti Vanhanen, Nokia signed agreements with its Chinese customers China Mobile and PTAC valued at over EUR 2 billion for the full year 2006.

The agreements show Nokia's continued commitment to the Chinese market. To date Nokia has committed over EUR 3.3 billion to investments in China, and continues to invest in manufacturing, sales and R&D in the Chinese market.

"The signing of these two important agreements is a milestone event for Nokia's operations in China," said Nokia CEO Olli-Pekka Kallasvuo. "We set up our operations more than 20 years ago with a handful of employees and today we employ over 6700 people in China. It is the single biggest market for Nokia, as well as one of the largest contributors to Nokia's R&D, manufacturing and innovation."

In a separate release:

HELSINKI, Finland -- Nokia, a leading mobile telecommunications infrastructure supplier, and China Mobile Communications Corporation (China Mobile), the world's largest GSM operator, have today signed a frame agreement for the purchase of Nokia GSM/GPRS network system equipment. The agreement, valued at EUR 580 million for the full year and for which deliveries have already started, further strengthens Nokia's cooperation with China Mobile and reaffirms Nokia's leading position in GSM network and mobile softswitch system deployments in the Chinese market.

Under the frame agreement, Nokia will supply China Mobile GSM/GPRS radio and core network equipment, including base stations and Nokia MSC Server mobile softswitch, for network expansions in China during 2006. In addition, Nokia will provide professional services, including network planning, implementation and care services for the network expansion. Deliveries have already started.

"The frame agreement reaffirms China Mobile's trust in Nokia and our capability to provide complete solutions. Nokia is well positioned and fully committed to support operators exploring the potential of GSM networks. We can help operators to prepare for future network evolution with the unique end-to-end capability of our unified core network, multi-access solutions, handset leadership and services offering," says James Lin, Vice President, Networks, Nokia China.

"We are extremely pleased with our cooperation with Nokia," says Sha Yuejia, Vice President of China Mobile.

Nokia Corp. (NYSE: NOK)