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KONE to Appeal the European Commission’s Decision

Stock Exchange Release Published 02/03/2007

KONE will appeal the European Commission’s decision to impose fines of EUR 142 million for anticompetitive practices.

The fine will be recognized as cost in the first quarter of the financial year.

Sender:

KONE Corporation

Klaus Cawén
Executive Vice President

Minna Mars
Senior Vice President,
Corporate Communications & IR

For further information, please contact:

Minna Mars, SVP, Corporate Communications & IR, tel. +358 (0)204 75 4501

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