Nokian Tyres plc Stock Exchange Announcement Dec.20,2001 11 am 1/1

Nokian Tyres plc has established a new incentive scheme based on the Company's share price development. The scheme concerns those 1999 warrant holders who did not convert their 1999 warrants into new 2001 warrants in May 2001. The new incentive scheme replaces the 1999 warrant scheme.

Most of the 1999 warrants were returned back to the company and were cancelled in spring 2001 when the new 2001 warrants were issued. After this measure, the remaining number of 1999 A-warrants was 42,525 and B-warrants 41,025. This now established incentive scheme replaces these warrants, and after that no 1999 warrants exist.

After this Nokian Tyres' personnel has the total of 600,000 warrants.


NOKIAN TYRES PLC


Raila Hietala-Hellman
Vice President, Public Information

Further information:
Mr Rami Helminen, CFO, tel. +358 3 340 7463