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KONE Continues its Success in the Marine Elevator Business

Press Release Published 04/10/2007

KONE has received a major order from Aker Yards for the design, supply and installation of all elevators in Royal Caribbean International’s Genesis 2 luxury passenger cruise ship. KONE will also supply all elevators for Tallink’s new Cruise 5 ferry ship.

Altogether, the orders consist of 53 custom designed elevators for an approximate value of EUR 15 million.

“With these two orders, KONE further strengthens its position as the market leader in vertical transportation for the international cruise ship segment,” says Heikki Leppänen, EVP, New Elevators and Escalators, KONE. “We are consistently focusing on creating customer-oriented products and service solutions. This approach has once again played a big part in the booking of these orders.”

Genesis 2 will equal the first Genesis luxury cruise ship as the largest ever built. The ship will be 360 meters long and accommodate up to 5,400 passengers. It is scheduled to be completed in 2010. Tallink’s Cruise 5 ship will be the third in a series of cruise ferries for the Baltic Sea and is scheduled to be completed in 2009. Both ships will be built in Finland.

These new orders from Aker Yards reinforce KONE’s position in the marine elevator business with many projects currently underway. In 2006, KONE received an order from Aker Yards to supply 43 customized elevators for the very first Genesis cruise ship which is scheduled to be completed in 2009. Last April, KONE also received its largest contract for cruise ships when Aker Yards ordered 60 custom designed elevators and 12 escalators for two Norwegian Cruise Line ships.

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 3.6 billion and approximately 29,000 employees. KONE 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