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2015-09-22

NOKIA: Nokia and the French Government announce agreement on a shared vision of innovation in France enabled by Nokia's proposed combination with Alcatel-Lucen

Paris, France and Espoo, Finland - Nokia's President and Chief Executive
Officer Rajeev Suri met today with Emmanuel Macron, France's Minister of
Economy, Industry and Digital Affairs, to formally affirm Nokia's commitment
to driving innovation in France and, globally, from France, that will result
from Nokia's proposed combination with Alcatel-Lucent. Today's announcement
follows an open and fruitful dialogue between Nokia and the French Government
since the proposed combination was announced in April 2015.

In its discussions with the French Government, Nokia has confirmed that France
will play a leading role in the combined entity's Research and Development
("R&D") operations. Nokia will build on the strong competencies in the
country within key technology areas, on the existing presence of
Alcatel-Lucent and its strong engagement in the technology ecosystem in
France, and on the excellent new technical talent available from French
universities.

Nokia intends to leverage Alcatel-Lucent's existing capabilities in R&D and
its strong talent base through worldwide technology centers located in France
that will focus on 5G and Small Cells, Cyber-security and privacy, Bell Labs,
Wireless Transmission, Optical transmission, and IP platforms.

Nokia expects to benefit from becoming a deeply embedded part of France,
tapping into and helping develop the technology ecosystem of the country.
Nokia will invest further in the digital innovation ecosystem in France
following the completion of the transaction, primarily through the
establishment of a long-term investment fund in the range of EUR 100 million.
This fund will mainly target the Internet of Things, cyber-security and
software platform enablers for next generation networks.

Nokia intends to support the development of the overall telecom ecosystem in
France and to ensure continuity of Alcatel-Lucent's current initiatives. This
involves playing an active role in the government's "Industry of the Future"
program, funding academic tuition, programs and chairs, situating technology
experts within France (such as within Bell Labs France), and continuing
Alcatel-Lucent's involvement in major initiatives such as Pôles de
compétitivité Systematic, Cap Digital, and Images and Réseaux. Nokia will
also develop three industrial platforms and networks prototypes in France
within the fields of 5G, Industrial Internet / Internet of Things
connectivity and cyber-security.

As previously announced, Nokia has also committed to maintaining employment in
France that is consistent with Alcatel-Lucent's Shift Plan commitments for a
period of at least two years after completion of the proposed transaction.
R&D capacity is planned to be increased from 2 000 to 2 500 employees over
the next three years, including the recruitment of at least 300 new
graduates. The R&D employment level will be maintained for a period of at
least four years after completion of the proposed transaction.

Following the completion of the transaction, Nokia, which will remain
headquartered in Finland, intends to leverage the combined strengths of the
companies' strategic business locations and major R&D centers in other
countries, including Finland, Germany, the United States and China.

The transaction is expected to be completed in the first half of 2016. It
remains subject to a number of other closing conditions, such as Nokia
shareholder approvals, Nokia holding over 50.00% of Alcatel-Lucent's fully
diluted share capital following completion of the exchange offer, receipt of
the remaining regulatory approvals and other customary conditions. Nokia has
committed, upon completion of the transaction, to providing regular updates
to the French government as the integration of the two companies progresses.

About Nokia

By focusing on the human possibilities of technology, Nokia embraces the
connected world to help people thrive. Our three businesses are leaders in
their fields: Nokia Networks provides broadband infrastructure, software and
services; HERE provides mapping, navigation and location intelligence; and
Nokia Technologies provides advanced technology development and
licensing.http://www.nokia.com

About Alcatel-Lucent

Alcatel-Lucent is the leading IP networking, ultra-broadband access and cloud
technology specialist. It is dedicated to making global communications more
innovative, sustainable and accessible for people, businesses and governments
worldwide. Its mission is to invent and deliver trusted networks to help its
customers unleash their value. Every success has its network.

For more information, visit Alcatel-Lucent on:http://www.alcatel-lucent.com,
read the latest posts on the Alcatel-Lucent
bloghttp://www.alcatel-lucent.com/blogand follow the Company on
Twitter:http://twitter.com/Alcatel_Lucent.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements that reflect Nokia's and
Alcatel-Lucent's current expectations and views of future events and
developments. Some of these forward-looking statements can be identified by
terms and phrases such as "expect," "will" and similar expressions. These
forward-looking statements include statements relating to the expected
timing of closing of the proposed transaction and satisfaction of conditions
precedent, including regulatory conditions. These forward-looking statements
are subject to a number of risks and uncertainties, many of which are beyond
our control, which could cause actual results to differ materially from such
statements. These forward-looking statements are based on our beliefs,
assumptions and expectations of future performance, taking into account the
information currently available to us. These forward-looking statements are
only predictions based upon our current expectations and views of future
events and developments and are subject to risks and uncertainties that are
difficult to predict because they relate to events and depend on
circumstances that will occur in the future. Risks and uncertainties include
the ability of the parties to obtain the necessary regulatory approvals and
consummate the pending transaction.

The forward-looking statements should be read in conjunction with the other
cautionary statements that are included elsewhere, including the Risk Factors
section of the Registration Statement (as defined below), Nokia's and
Alcatel-Lucent's most recent annual reports on Form 20-F, reports furnished
on Form 6-K, and any other documents that Nokia or Alcatel-Lucent have filed
with the SEC. Any forward-looking statements made in this release are
qualified in their entirety by these cautionary statements, and there can be
no assurance that the actual results or developments anticipated by us will
be realized or, even if substantially realized, that they will have the
expected consequences to, or effects on, us or our business or operations.
Except as required by law, we undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

IMPORTANT ADDITIONAL INFORMATION

This release relates to the proposed public exchange offer by Nokia to
exchange all of common stock and convertible securities issued by
Alcatel-Lucent for new ordinary shares of Nokia. This release is for
informational purposes only and does not constitute an offer to purchase or
exchange, or a solicitation of an offer to sell or exchange, all of common
stock and convertible securities of Alcatel-Lucent, nor is it a substitute
for the Tender Offer Statement on Schedule TO or the Preliminary Prospectus /
Offer to Exchange included in the Registration Statement on Form F-4 (the
"Registration Statement") to be filed by Nokia with the SEC, the Solicitation
/ Recommendation Statement on Schedule 14D-9 to be filed by Alcatel-Lucent
with the SEC, the listing prospectus of Nokia to be filed by Nokia with the
Finnish Financial Supervisory Authority or the offer document (note
d'information
) to be filed by Nokia with, and which will be subject to the review of, the
AMF or the response document (note en réponse
) to be filed by Alcatel-Lucent with the AMF (including the letter of
transmittal and related documents and as amended and supplemented from time
to time, the "Exchange Offer Documents"). No offering of securities shall be
made in the United States except by means of a prospectus meeting the
requirements of Section 10 of the U.S. Securities Act of 1933. The proposed
exchange offer will be made only through the Exchange Offer Documents.

The making of the proposed exchange offer to specific persons who are
residents in or nationals or citizens of jurisdictions outside France or the
United States or to custodians, nominees or trustees of such persons (the
"Excluded Shareholders") may be made only in accordance with the laws of the
relevant jurisdiction. It is the responsibility of the Excluded Shareholders
wishing to accept an exchange offer to inform themselves of and ensure
compliance with the laws of their respective jurisdictions in relation to the
proposed exchange offer. The Exchange Offer Documents have not yet been filed
with appropriate regulators, including the SEC. The tender offer will be made
only through the Exchange Offer Documents.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE EXCHANGE OFFER DOCUMENTS
AND ALL OTHER RELEVANT DOCUMENTS THAT NOKIA OR ALCATEL-LUCENT HAS FILED OR
MAY FILE WITH THE SEC, AMF, NASDAQ HELSINKI OR FINNISH FINANCIAL SUPERVISORY
AUTHORITY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN
IMPORTANT INFORMATION THAT INVESTORS AND SECURITY HOLDERS SHOULD CONSIDER
BEFORE MAKING ANY DECISION REGARDING THE PROPOSED EXCHANGE OFFER.

The information contained in this release must not be published, released or
distributed, directly or indirectly, in any jurisdiction where the
publication, release or distribution of such information is restricted by
laws or regulations. Therefore, persons in such jurisdictions into which
these materials are published, released or distributed must inform themselves
about and comply with such laws or regulations. Nokia and Alcatel-Lucent do
not accept any responsibility for any violation by any person of any such
restrictions.

The Exchange Offer Documents and other documents referred to above, if filed
or furnished by Nokia or Alcatel-Lucent with the SEC, as applicable, will be
available free of charge at the SEC's website (www.sec.gov).

Once the public exchange offer has been filed by Nokia and approved by the
AMF, Nokia's offer document (note d'information
) and Alcatel's response document (note en réponse
), containing detailed information with regard to the exchange...

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