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KONE Wins a Major Order for Shanghai International Financial Centre

Press Release Published 17/10/2007

KONE has received a major order from Sun Hung Kai Properties Group to supply and install 99 elevators and escalators for the new Shanghai International Finance Centre (IFC) in the heart of the Lujiazui financial centre in Pudong, the most flourishing business hub of Shanghai, China.

The Shanghai IFC will be equipped with 84 KONE MiniSpace™ and 11 KONE MonoSpace® elevators, and four KONE double-deck elevators, which will be the first of its kind installed in China. When installed, the fastest elevators will travel up to speeds of 8.0m/s and the highest traveled distance will be roughly 250 meters. Installation of the equipment will begin in November 2007 and is scheduled to be completed in 2009.

“We are very pleased to have won an order for the Shanghai IFC building, which will surely become a beacon of Shanghai’s thriving economy,” Pekka Kemppainen, KONE Area Director for Asia-Pacific. “We are happy to work with Sun Hung Kai Properties Group on this order, which will improve KONE’s presence in the Chinese market.”

The Shanghai IFC will be a new international landmark of China. The integrated commercial complex will comprise of three towers, including twin towers measuring 260 meters and 250 meters respectively, as well as another 85-meter tower. It will host grade-A offices, two hotels managed by Ritz-Carlton and W Hotels, as well as a top-end mall with an array of international retailers. The project is scheduled to be completed in different phases from mid 2009 to 2010.

The building owner and developer, Sun Hung Kai Properties Group, is one of the largest property companies in Hong Kong, developing all types of premium residential and commercial projects for sale and investment.

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)50 384 9440 or +358 (0)204 75 4501