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KONE Wins a High-Rise Project in New York

Press Release Published 17/01/2008

KONE has received a major order from Hines to supply all elevators for the 610 Lexington Avenue project.

The 66-story building, located in midtown Manhattan, will consist of a Shangri-La luxury hotel and condominiums. The building’s structure will rise as high as 215 meters (705 feet) and include altogether nine elevators.

The new building will be located near many of New York City’s most notable architectural landmarks - the Seagrams Building at 375 Park Avenue, Lever House, the Citigroup Center and the GE Building. The installation of KONE equipment will start December 2008 and is scheduled to be completed in the Spring of 2010. The order has been booked in the 2007 order book.

“We are proud to be awarded this high-rise project in New York City, home to several of the world’s most well-known skyscrapers. Hines has proved to be a great partner with KONE and we look forward to working together to build this showcase project, leveraging the best of KONE's local and global talent,” says Vance Tang, KONE EVP and Area Director for Americas.

The 610 Lexington Avenue project follows KONE’s other successful high-rise projects in the United States such as the Hyatt Center and the Trump Tower in Chicago, Illinois.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The design architect for the building is Norman Foster and Partners.

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)204 75 4501