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European Union Competition Authority Investigates Elevator Industry

Stock Exchange Release Published 29/01/2004

On 28 January, 2004, the European Commission searched the offices of the European Elevator Association and several of its member companies, including KONE, in response to allegations of anticompetitive behavior in the European elevator and escalator market.
KONE considers the allegations to be unjustified and denies having participated in any illegal arrangements or practices.
Sender:
KONE Corporation
Tapio Hakakari
Secretary to the Board of Directors
Klaus Cawén
Executive Vice President
For additional information, please contact:
Klaus Cawén, Executive Vice President, phone: +358 (0)204 75 4492
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 ease moving and loading goods. KONE's B shares are listed on the Helsinki Exchanges.
www.konecorp.com