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Nokia and Siemens Networks to co-operate with NEC Corporation in the area of WCDMA radio networks

*****For immediate use February 12, 2007

3GSM World Congress 2007 Barcelona, Spain/Espoo, Finland/Munich, Germany/ Tokyo, Japan – At the 3GSM World Congress in Barcelona today, Nokia and Siemens Networks and NEC Corporation (NEC) announced they have signed a Memorandum of Understanding (MoU) for the co-operation in the area of WCDMA radio networks.

The co-operation consists of continued support and development for the installed base of Siemens Networks and NEC WCDMA base stations and radio networks controllers. The agreement is a logical continuation to the successful NEC and Siemens Networks WCDMA collaboration, which has been carried out through their joint venture company Mobisphere. Mobisphere is expected to continue as a joint venture of NEC and the future Nokia Siemens Networks after the creation of Nokia Siemens Networks.

In addition to the support and development for WCDMA radio access network installed base, NEC, Nokia and Siemens Networks will cooperate in further enhancing 3G/WCDMA businesses. The companies also will continue to discuss the possible cooperation beyond 3G areas like LTE.

NEC, Nokia and Siemens Networks have agreed to form this co-operation to further strengthen their state-of-art WCDMA product offering, and to provide mobile operators with the highest quality, best performance and most cost-efficient networks. This agreement will reinforce the companies' competitive position in the WCDMA market.

The planned merger to create Nokia Siemens Networks is expected to close in the first quarter of 2007, subject to previously announced closing conditions.

About Nokia
ANokia 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. Furhter information is available at www.nokia.com.

About Siemens
Siemens (Berlin and Munich) is a global powerhouse in electrical engineering and electronics. The company has around 475,000 employees (incl. discontinued operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of services for individual requirements. Siemens provides innovative technologies and comprehensive know-how to benefit customers in over 190 countries. Founded more than 155 years ago, the company focuses on the areas of Information and Communications, Automation and Control, Power, Transportation, Medical, and Lighting. In fiscal year 2006 (ended September 30), Siemens had sales of €87.3 billion and net income of €3.033 billion, according to U.S. GAAP. Further information is available on the Internet at www.siemens.com.

About NEC
NEC Corporation (NASDAQ: NIPNY) is one of the world's leading providers of Internet, broadband network and enterprise business solutions dedicated to meeting the specialized needs of its diverse and global base of customers. NEC delivers tailored solutions in the key fields of computer, networking and electron devices, by integrating its technical strengths in IT and Networks, and by providing advanced semiconductor solutions through NEC Electronics Corporation. The NEC Group employs more than 150,000 people worldwide. For additional information, please visit the NEC home page at: http://www.nec.com * Newsroom: http://www.nec.co.jp/press/en/

 

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CAUTIONARY STATEMENTS:
This material contains forward-looking statements pertaining to strategies, financial targets, technology, products and services, and business performance of NEC Corporation and its consolidated subsidiaries (collectively "NEC"). Written forward-looking statements may appear in other documents that NEC files with stock exchanges or regulatory authorities, such as the U.S. Securities and Exchange Commission, and in reports to shareholders and other communications. The U.S. Private Securities Litigation Reform Act of 1995 contains, and other applicable laws may contain, a safe-harbor for forward-looking statements, on which NEC relies in making these disclosures. Some of the forward-looking statements can be identified by the use of forward-looking words such as "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates," "targets," "aims," or "anticipates," or the negative of those words, or other comparable words or phrases. You can also identify forward-looking statements by discussions of strategy, beliefs, plans, targets, or intentions. Forward-looking statements necessarily depend on currently available assumptions, data, or methods that may be incorrect or imprecise and NEC may not be able to realize the results expected by them. You should not place undue reliance on forward-looking statements, which reflect NEC's analysis and expectations only. Forward-looking statements are not guarantees of future performance and involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. Among the factors that could cause actual results to differ materially from such statements include (i) global economic conditions and general economic conditions in NEC's markets, (ii) fluctuating demand for, and competitive pricing pressure on, NEC's products and services, (iii) NEC's ability to continue to win acceptance of NEC's products and services in highly competitive markets, (iv) NEC's ability to expand into foreign markets, such as China, (v) regulatory change and uncertainty and potential legal liability relating to NEC's business and operations, (vi) NEC's ability to restructure, or otherwise adjust, its operations to reflect changing market conditions, and (vii) movement of currency exchange rates, particularly the rate between the yen and the U.S. dollar. Any forward-looking statements speak only as of the date on which they are made. New risks and uncertainties come up from time to time, and it is impossible for NEC to predict these events or how they may affect NEC. NEC does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events, or otherwise.

The management targets included in this material are not projections, and do not represent management's current estimates of future performance. Rather, they represent targets that management will strive to achieve through the successful implementation of NEC's business strategies.

Finally, NEC cautions you that the statements made in this material are not an offer of securities for sale. The securities may not be offered or sold in any jurisdiction in which registration is required absent registration or an exemption from registration under the applicable securities laws. For example, any public offering of securities to be made in the United States must be registered under the U.S. Securities Act of 1933 and made by means of an English language prospectus that contains detailed information about NEC and management, as well as NEC's financial statements.


Media Enquiries

Nokia, Networks
Communications
Tel. +358 7180 31451

Nokia
Communications
Tel. +358 7180 34900
E-mail: press.office@nokia.com
www.nokia.com

Siemens Networks
Astrid Keibel
Tel. +49 89 722 31558
E-mail: astrid.keibel@siemens.com
www.siemens.com

www.nokiasiemensnetworks.com/3gsm

NEC
Corporate Communications Division
Akiko Shikimori
Tel: +81 3 3798 6511
E-mail: a-shikimori@ay.jp.nec.com

Chris Shimizu
Corporate Communications
NEC Europe Ltd.
Tel: +44 20 8752 2794
Fax +44 20 8752 2797
E-mail: chris.shimizu@uk.neceur.com
www.nec.com


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