Subscription for KONE class B shares with 2005B option rights 

During October 17–31, 2008, a total of 150,600 KONE Corporation’s class B shares were subscribed for with KONE 2005B option rights. In accordance with the previously announced share subscription schedule, the corresponding increase in KONE Corporation’s share capital will be entered into the Finnish Trade Register by December 31, 2008. Trading of the new shares will commence on the NASDAQ OMX Helsinki Ltd in Finland together with the existing class B shares after the entry into the Trade Register. In accordance with the terms and conditions of the stock option scheme, the subscription price of the shares with the 2005B stock options is EUR 4.02 per share.

About KONE

KONE’s objective is to offer the best people flow experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. KONE provides its customers with industry-leading elevators, escalators and innovative solutions for modernization and maintenance, and is one of the global leaders in its industry. In 2007, KONE had annual net sales of EUR 4.1 billion and over 32,500 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.

www.kone.com

For further information, please contact:
Jukka Ala-Mello, Secretary to the Board, tel. +358 (0)204 75 4226

Sender:

KONE Corporation

Jukka Ala-Mello        
Secretary to the Board   

Anne Korkiakoski
Executive Vice President
Marketing & Communications