Chennai, March 11, 2006: Nokia, the world leader in mobile communications today announced that two of its suppliers were commencing operations within the Nokia India Telecom Industry Park. The two global component suppliers are Aspocomp Group and Perlos Corporation. Nokia also announced that a total of 8-10 global and domestic component suppliers and service providers will be located within the Nokia India Telecom Industry Park. The Nokia Telecom Industry Park is estimated to generate 10,000 job opportunities when it is in full operation and will ensure that the Nokia India Chennai factory has a consistent supply of material and services from reliable, collaborative sources of global and local suppliers.

The global component suppliers Aspocomp Group (Oyj) has decided to expand its HDI business operations by building a new printed circuit board plant in the Nokia Telecom Industry Park, near Chennai, India. The plant will be India's first high technology HDI (High Density Interconnections) printed circuit board production facility and will be set up at an investment of over USD 70 million.

Additionally Perlos Corporation, the world's largest supplier of mechanics for the telecommunications industry, will build a manufacturing plant within the Nokia Telecom Industry Park at an investment of approximately USD 12 million. The plant will be a similar full-service manufacturing unit to those Perlos already operates in Asia, Europe and the Americas.

Commenting on the strategic importance of the Nokia Telecom Industry Park and the positive socio-economic impact it will have on the region, Mr. Jukka Lehtela said “The mission of the Nokia Telecom Industry Park is to create a network of co-located and co-dependent partners that operate at world class standards and manufacture high quality products that set the benchmark for the mobile industry. Chennai was selected as the location for the Nokia Telecom Industry Park due to the availability of skilled labor, support from the state government and the presence of good logistics connections and we are confident that this Telecom Industry Park will give a tremendous boost to the local economy by generating jobs and improving the social infrastructure of the region.”

Ms Maija- Liisa Friman, CEO, Aspocomp, said “The expansion into India is a logical step in the implementation of our strategy that has already started in Thailand and China. India is an attractive and rapidly growing market for printed circuit boards. This project is important as it significantly reinforces our ability to service our global customers. The project combines high technology products, production flexibility, a good delivery capacity, and a competitive cost level."

Mr Isto Hantila, President and CEO, Perlos Corporation said, “Perlos has been investing heavily in the Asia-Pacific region in the past few years to respond to the growing demand for handset manufacturing services. Our new plant here in Chennai will be an important addition to our global presence. With this new plant, we will be able to offer services to mobile device manufacturers investing in India and to companies providing electronics manufacturing services.”

Developing the Nokia Telecom Industry Park in Chennai into a world class high-tech industrial zone is an important part of Nokia's global manufacturing strategy. The Telecom Industry Park not only underlines Nokia's successful cooperation with the Indian government but also represents a unique and optimized business model that will provide growth opportunities for all parties in the value chain. The 210.87 acres of land in the Telecom Industry Park will provide Nokia with the benefits of a pollution free environment, in-house customs clearance, and uninterrupted power supply.
 

About Perlos Corporation
Perlos Corporation is a global partner for the telecommunications and healthcare industries with service offerings covering the whole product life cycle from industrial design to manufacturing, logistics and new product versions. Perlos Corporation’s production facilities are located in Asia, Europe and the Americas and the company is headquartered in Finland. In 2005, Perlos Corporation's net sales amounted to EUR 666,8 million and the company employed nearly 13,000 people worldwide. Perlos share (POS1V) is traded on the Helsinki Stock Exchange.

About Aspocomp Group
The Aspocomp Group offers and develops innovative interconnection solutions for the electronics industry in close cooperation with its customers. Aspocomp is a supplier of mobile data terminal equipment components and aims to further bolster its position as a supplier to the automotive industry and data communications networks. Aspocomp offers global customers a fast road to mass production through flexible and cost-effective adaptation of new technologies.The Aspocomp Group's production facilities are located close to its customers in Finland, China, and Thailand. In 2005, the Group's net sales stood at EUR 154 million and it had about 3,400 employees.
 
About Nokia
Nokia is a world leader in mobile communications, driving the growth and sustainability of the broader mobility industry. Nokia connects people to each other and the information that matters to them with easy-to-use and innovative products like mobile phones, devices and solutions for imaging, games, media and businesses. Nokia provides equipment, solutions and services for network operators and corporations. www.nokia.com