Changes in KONE’s Organizational Structure

In response to the continuing integration of Europe, KONE is restructuring its three European Area organizations into two. The new areas in Europe are Central and North Europe, and West and South Europe.

Laurent Gielis, 59, has been named area director, Central and North Europe. Employed by KONE since 1974, his previous position was managing director of KONE Elevators Co., Ltd. of China. Prior to that assignment, he served in several management positions in KONE Belgium S.A.

The area director for West and South Europe is Eric Maziol, 54, who was previously area director for South Europe. He has worked for KONE since 1977 and among other assignments served as head of KONE’s operations in France and as KONE vice president, Marketing and Field Operations.

Tor-Erik Sandelin, who was previously area director for North Europe, will move to Kone Cargotec as senior vice president, where he will assume responsibility for developing the division’s service business and serve on its Executive Committee. Central Europe area director Heiko Körnich will retire from his area director’s position at the end of 2004 but continue to serve as managing director of the automatic building door company, Konematic GmbH, in Germany.

These appointments take effect as of 1 September, 2004, after which KONE’s area directors will be the following:
Laurent Gielis, Central and North Europe
Eric Maziol, West and South Europe
Heimo Mäkinen, North America
Pekka Kemppainen, Asia-Pacific

The area directors report to KONE president Manfred Eiden.

Sender:

KONE Corporation

Tapio Hakakari
Secretary to the Board of Directors

Minna Mars
Senior vice president,
Corporate Communications & IR

For further information, please contact:
Kerttu Tuomas, Executive vice president, Human Resources, tel. +358 (0)204 75 4373

KONE is a global service and engineering company that specializes in moving people and goods. It comprises two divisions: KONE Elevators & Escalators and Kone Cargotec. KONE Elevators & Escalators sells, manufactures, installs, maintains and modernizes elevators and escalators, and services automatic building doors. Kone Cargotec supplies products and services to facilitate moving and loading cargo. KONE's B shares are listed on the Helsinki Exchanges.

www.konecorp.com