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KONE Secures Major Order for the Revel Entertainment Hotel and Casino

Press Release Published 07/02/2008

KONE has received a major order from Revel Entertainment to supply and install 24 luxurious high-rise elevators for Hotel Tower II at Revel, a new beachfront entertainment destination in Atlantic City.

The Revel Hotel Tower II will be equipped with 24 KONE EcoSystem MR™ elevators, serving between 11 and 52 landings. When installed, the fastest elevators will travel up to speeds of 5.1 m/s (1000fpm) and the highest traveled distance will be 177 meters (580 feet). Installation of the equipment is scheduled to begin in August 2008 and completion is due in early 2010.

“We are very pleased to be a part of this dynamic and distinctive property and for the opportunity to showcase KONE’s innovative and quality products,” says Vance Tang, EVP and Area Director for Americas, KONE. “We are very enthusiastic about working with Revel Entertainment and Tishman Construction on this order, which will continue to demonstrate the strength of KONE’s team in the Philadelphia/Atlantic City high-rise market.”

Featuring a beautiful beachfront view, the Revel Hotel Tower II will be located at the North end of the Boardwalk bordered by Oriental, New Jersey and Metropolitan Avenues. The site is located on 81,000 m2 (20 acres) and is one of the largest beachfront development sites in Atlantic City.

The building owner and developer, Revel Entertainment Group, is a gaming and entertainment company formed by Kevin DeSanctis, its Chairman and Chief Executive Officer. The construction manager for the project is Tishman Construction Corporation, which has constructed over 40 million square meters (430 million square feet) of various building types. Arquitectonica is the design architect.

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 approximately 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:
Minna Mars, SVP, Corporate Communications & IR, tel. +358 (0)204 75 4501
Deb Robbins, Director Marketing and Sales - Americas, tel. 309-743-5319