Announcement of Change in KONE’s Shareholding in Accordance with the Securities Market Act Chapter 2 Section 9

The long-standing chairman of the Board of Directors of KONE Corporation, Pekka Herlin, passed away on April 4, 2003. The controlling rights to the shares in Security Trading Oy and Holding Manutas Oy held by Pekka Herlin before his death have been transferred to Antti Herlin. The ownership right to the shares in question was transferred to Antti Herlin in an arrangement on March 1, 1999, according to which Pekka Herlin kept the life-long right of possession of the shares.

Following the transfer, KONE Corporation shares controlled by Antti Herlin are as follows:

	Class A shares	Class B shares	Votes	% of shares	% of votes
Holding Manutas Oy	6,785,574	145,890	6,800,163	10,92	45,58
Security Trading Oy	2,034,627	11,262,659	3,160,892	20,95	21,19
Antti Herlin	0	67,434	6,744	0,11	0,05
Total	8,820,201	11,475,983	10,028,489	31,98	66,82

Sender:

KONE Corporation

Tapio Hakakari
Secretary to the Board of Directors

Outi-Maria Liedes
Senior Vice President
Corporate Communications & IR