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KONE acquires French elevator company

Press Release Published 13/03/2008

KONE acquired ARA Lyon, a French elevator company based in Lyon. ARA Lyon maintains and modernizes elevators in the area of Lyon. The company also sells new equipment.

The acquisition strengthens KONE’s position in the second largest metropolitan area in France and will generate synergies with the existing activities, thus enabling KONE to improve its service excellence in the region.

ARA Lyon employs 37 people and has currently approximately 1,200 elevators in its maintenance base. The operations of ARA Lyon will be integrated to KONE’s current operations in the Rhône-Alps region.

About KONE

KONE is one of the world’s leading elevator and escalator companies. It provides customers with industry-leading elevators, escalators and innovative solutions for maintenance and modernization. KONE also provides maintenance services for automatic building doors. In 2007, KONE had annual net sales of EUR 4.1 billion and over 32,500 employees. Its class B shares are listed on the OMX Nordic Exchange Helsinki in Finland.

www.kone.com

For further information, please contact:
Minna Mars, SVP, Corporate Communications & IR, tel. +358 (0)50 384 9440
or +358 (0)204 75 4501