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NOKIA AND SEGA REACH AGREEMENT ON THE TRANSFER OF SELECT SEGA.COM LEADING TECHNOLOGY

Nokia further enhances online games and services for the Nokia N-GageTM game deck

San Francisco. (August 19, 2003) -Nokia (NYSE: NOK) and SEGA Corporation (Tokyo, Japan) today announced a definitive agreement in which Nokia will acquire assets of Sega.com Inc., a subsidiary of SEGA. This agreement will further enhance online games and service offerings for the Nokia N-GageTM game deck, as Sega.com's leading multi-player technology will now become an integral part of the Nokia N-Gage experience. The SEGA Network Application Package (SNAP), that enables high-performance networked multi-player games, will form the core part of Nokia Mobile Phones' Entertainment and Media Business Unit's online games activity. This transaction is subject to standard closing conditions.

"Online multi-player games and mobility are seen as the hottest developments in the games industry today. This acquisition is a logical step in bringing online elements to mobile games," said Ilkka Raiskinen, Senior Vice President, Entertainment and Media Business Unit. "Sega.com Inc. has developed a robust technology platform which, combined with the Nokia N-GageTM game deck, opens up totally new dimensions for gamers. Sega.com is known to be the host for some of the world's best online game competencies, and I believe that together, we have the leading knowledge in both mobility and online games technologies, thus further developing and expanding the opportunities for the entire games space."

Sega.com Inc. is located in San Francisco focusing on game distribution and online game services. In the game industry, Sega.com Inc. is known as a leading supplier of technology for, and a pioneer in, mobile and multi-player online games. Following the acquisition, SNAP will be integrated into the Nokia N-GageTM game deck enabling multi-player games for mobile and fixed environments. SNAP will bring immediate benefits to the Nokia N-Gage game deck, scheduled to be available to consumers worldwide October 7, 2003.

The integration of SNAP technology into Nokia's game portfolio will have positive effects on all aspects of the games community. Nokia N-GageTM gamers will benefit from content creation, resulting in more feature-rich multi-player online games. The mobile operators will have the opportunity to generate additional revenue streams by integrating games industry technology into their mobile networks. Finally, SNAP technology offers games developers a flexible and well tested online games platform to provide appealing and entertaining games to gamers globally. Over time, SNAP will bring even bigger benefits to the games industry as the technologies and games genres evolve to take full advantage of online elements.

"SEGA understood the great future for online gaming from a very early point. Thus, we have used our best efforts to further the online gaming business," said Hisao Oguchi, Representative Director and President of SEGA Corporation. "After this agreement closes, Nokia will leverage the SNAP technology to strenghthen online gaming titles for Nokia N-GageTM. SEGA will continue to enhance its gaming software business as a content publisher and pursue various avenues in the online entertainment industry including providing content for Nokia N-GageTM."

About Sega.com
Sega.com, Inc. (www.sega.com), is a network entertainment company that integrates Internet technology with innovation while leveraging a video game heritage dating back more than 50 years. Sega.com also built the first high-speed online console gaming network and community destination for gamers. Sega.com is dedicated to bringing the technology and content required for networked entertainment to game developers and game players alike, leveraging the network possibilities for a multitude of devices including game consoles, cellular phones and PDAs.

About SEGA Corporation
SEGA® Corporation is a worldwide leader in interactive entertainment both inside and outside the home, encompassing consumer business, amusement machine sales and amusement center operations. The company develops, publishes and distributes interactive entertainment software products for a variety of hardware platforms including PC, wireless devices, and those manufactured by Nintendo, Microsoft and Sony Computer Entertainment Inc. SEGA® Corporation's Web site is located at http://sega.jp.

About Nokia
Nokia is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed broadband and IP networks. By adding mobility to the Internet, Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges.

This press release may contain forward-looking statements relating to future events or future financial performance that involve risks and uncertainties. Such statements can be identified by terminology such as may, will, should, expects, plans, anticipates, believes, foresees, or similar expressions, or the negative of such terms or comparable terms. These statements are only predictions, and actual results could differ materially from those anticipated in these statements based upon a number of factors including those identified in Nokia's filings with the SEC.
 



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