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KONE Wins an Order for the Mandarin Oriental Tower in Chicago

Press Release Published 04/09/2007

KONE has received a contract from Bovis Lend Lease on behalf of Palladian Development for the design, delivery and installation of all elevators for the new building named Mandarin Oriental Tower Chicago in the U.S.

When completed, the multi-purpose building will offer five-star hotel guest rooms, private residences and tower condominiums. The first floors of the building will house restaurants that are part of the hotel and luxury retail.

Standing at 248 meters (814 feet), the Mandarin Oriental Chicago will be among the ten tallest buildings in Chicago once it is completed in 2010. The exclusive development will be located next to Chicago’s growing Millennium Park neighborhood, which has become the city’s renowned centre for art, music, architecture and landscape design. Mandarin Oriental Chicago will occupy 19 floors of the 61-story tower.

“KONE is excited to work with Palladian Development, Bovis Lend Lease and Solomon Cordwell Buenz Architects, which were important considerations for KONE in securing this prestigious project. KONE is also extremely pleased to work with the Mandarin Hotel in their first luxury project in Chicago,” comments Vance Tang, KONE EVP, Area Director for the Americas.

The hotel and residences will be equipped with 14 KONE MiniSpaceTM and 3 KONE MonoSpace® elevators, and one hydraulic elevator. The installation of the elevators is planned to start in April 2008 and scheduled to be completed in January 2010.

Palladian Development is a Chicago based developer of mixed-use luxury developments around the world. The Residences at Mandarin Oriental, Chicago were honored as the “Best of the Best” by The Robb Report in June 2007.

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