NOKIAN TYRES TO START NEW STATUTORY NEGOTIATIONS TO ADJUST OPERATIONS AT THE NOKIA CAR TYRE FACTORY

Nokian Tyres plc Stock Exchange Release 9.12.2008 at 3.00 p.m. 

NOKIAN TYRES TO START NEW STATUTORY NEGOTIATIONS TO ADJUST OPERATIONS AT THE
NOKIA CAR TYRE FACTORY 

Nokian Tyres has today started new statutory negotiations in order to adjust
operations and to cut personnel by approx. 450 people at its Nokia factory in
Finland due to the  decreased demand for tyres. 

The agenda of the negotiations includes a plan to change the working model of
the car tyre production from the current continuous three-shift/seven days work
to the discontinued three-shift/five days operations and to re-organize
operations. This would result in the annual production capacity at the Nokia
factory to decrease from the current approx. 6 million tyres to approx. 4.5
million tyres in 2009. 

The discontinued three-shift work and the re-organisation measures would create
a need to cut personnel by approx. 450 people of which some 100 people would be
white collar personnel. The aim is to carry out part of the personnel cuts by
pension arrangements and other voluntary solutions. 

The new factory working model and re-organisations would decrease Nokian Tyres'
costs in Nokia by approx. 30 million euros. 

- The Nokia factory will concentrate in producing tyres needed in the Nordic
and other Western countries, whereas production at the Russian factory will be
sold in Russia and other CIS countries and also partly exported to other
markets. We are able to increase our production rapidly in both factories once
the tyre market recovers, says Mr. Kim Gran, CEO and President of Nokian Tyres. 

The statutory negotiations of Nokian Heavy Tyres are continuing. 

Nokian Tyres plc

Raila Hietala-Hellman
Vice President, Corporate Communications


Further information: Mr. Kim Gran, President and CEO,
tel. +358 10 401 7336. 


Distribution: NASDAQ OMX, major media and www.nokiantyres.com