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KONE Sells its KONE Building in Finland

Press Release Published 30/11/2007

KONE announced on August 7, 2007, that it was considering the sale of its KONE Building located in Espoo, Finland. KONE sold the KONE Building today to Hanseatische Investment-GmbH (“Hansainvest”).

The selling price is EUR 35 million. KONE will stay in the building as a tenant under a long-term lease agreement.

“We are pleased with the outcome of the sales process and we welcome Hansainvest as our partner and long-term property owner,” comments Klaus Cawén, Executive Vice President, KONE Corporation.

The KONE Building is located next to the sea in the Keilaniemi business district of Espoo, and was designed by Antti-Matti Siikala. The office building reaches up to 72 meters and has become one of the visual landmarks of Espoo. Thanks to its height, scenic elevators and steel structure, the KONE Building characterizes the area’s technology orientation while maintaining its presence as an architectural monument between Espoo and Helsinki.

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

About HANSAINVEST

Founded in 1969, HANSAINVEST Hanseatische Investment-GmbH, Hamburg, is part of the SIGNAL IDUNA Group, one of the largest German insurance and financial service providers. 125 employees are managing assets of about EUR 9.4 billion in 43 mutual funds and app. 20 special funds. In the real estate sector HANSAINVEST is managing real estate assets of app. EUR 2.3 billion, split up into direct investments, three special real estate funds and one open real estate fund HANSAimmobilia.

For further information, please contact:
KONE Corporation: Lasse Mäkelä, Vice President, Alliances and Acquisitions, tel. +358 (0)204 75 4465

Hansainvest: Nils Keggenhoff, Senior Manager, Acquisitions and Sales, tel. +49 (40)300 57 6078