NOKIAN TYRES PLC

Stock Exchange Release 22 February 2005 at 3 p.m.

APPROVAL OF SUBSCRIPTIONS MADE IN THE NOKIAN TYRES PLC SHARE ISSUE

THESE MATERIALS ARE NOT AN OFFER FOR SALE OF THE SHARES IN THE UNITED STATES. THE SHARES MAY NOT BE SOLD IN THE UNITED STATES WITHOUT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. NOKIAN TYRES PLC DOES NOT INTEND TO REGISTER ANY PORTION OF SUCH OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF SHARES IN THE UNITED STATES.

Nokian Tyres plc’s (Company) Board of Directors has approved the subscriptions made in the Company’s share issue. All 1,074,000 shares offered were subscribed for in the share issue. Pursuant to the share issue, the share capital of the Company will thus be increased by the maximum amount of EUR 2,148,000.

The increase of the Company’s share capital is expected to be registered in the Finnish Trade Register on 23 February 2005.

Listing of the new shares on the Main List of the Helsinki Stock Exchange is expected to commence on 24 February 2005.

NOKIAN TYRES PLC

BOARD OF DIRECTORS

Distribution: Helsinki Stock Exchange

Main news media

NOT FOR DISTRIBUTION IN THE UNITED STATES.