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KONE applies for listing of the 2005C stock options

Stock Exchange Release Published 17/03/2008

KONE will apply for the listing of its 2005C stock options on the OMX Nordic Exchange Helsinki in Finland so that the listing begins as of April 1, 2008. The stock options are to be entered into the book-entry system as of March 31, 2008.

The total number of 2005C stock options is 2,000,000. Each option right entitles its owner to subscribe for two (2) KONE Corporation’s class B shares. The maximum number of new class B shares that can be subscribed for with the 2005C option rights is 4,000,000. KONE Corporation’s subsidiary, KONE Capital Oy, has 522,000 stock options in its possession.

The current subscription price for 2005C stock options is EUR 12.55 per share. According to the options’ terms and conditions, the subscription price shall be deducted by the amount of dividend confirmed before the subscription period. The subscription period begins on April 1, 2008 and ends on April 30, 2010. The annual subscription period during which the shares can be subscribed with the stock options lasts from March 1 to November 30. Subscription services will be provided by Carnegie Investment Bank Ab, Finland Branch.

The reasons to grant 2005C stock options and the initial option terms and conditions have been disclosed in a stock exchange release on October 24, 2005. The updated terms and conditions can be found on KONE’s website at www.kone.com.

In 2008, the increases in share capital based on the share subscriptions will be registered as follows:

Last subscription dateBoard’s approvalRegistration of the increase in share capital latest by
Apr 17, 2008Apr 22, 2008Apr 30, 2008
July 17, 2008July 22, 2008Aug 8, 2008
Oct 16, 2008Oct 21, 2008Oct 31, 2008
Nov 30, 2008Dec 15, 2008Dec 31, 2008

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 2006, KONE had annual net sales of EUR 4.1 billion and over 32,500 employees. KONE class B shares are listed on the OMX Nordic Exchange Helsinki 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

Minna Mars
Senior Vice President,
Corporate Communications & IR