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KONE sells real estate business Cellit

Press Release Published 15/04/2003

KONE has sold the real estate company Cellit to the management of the company. The value of Cellit’s real estate holding is approximately EUR 12 million. The transaction will not have a significant effect on KONE’s financial result.

Sender:
KONE Corporation

Tapio Hakakari
Secretary to the Board of Directors

Outi-Maria Liedes
Senior Vice President
Corporate Communications & IR

For further information, please contact:
Kari Heinistö, Vice President, KONE Materials Handling
tel. +358 (0)204 55 6394
Kai Huimala, President, Cellit Oy Ab, tel. +358 (0)204 55 4327
Outi-Maria Liedes, Senior Vice President
Corporate Communications & IR, KONE
tel. +358 (0)204 75 4501

KONE is a global service and engineering company that specializes in moving people and goods. Annual net sales total EUR 5,500 million, and we employ nearly 36,000 people. KONE's B shares are listed on the Helsinki Exchanges.

www.kone.com