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KONE Wins an Order for the One New Change Retail and Office Development in London

Press Release Published 30/08/2007

KONE has signed a contract with Land Securities for the delivery and installation of all elevators and escalators for the One New Change multi-purpose development in London’s Square Mile district.

When completed, it will be one of the largest consolidated retail spaces in the City of London.

“This contract continues our ongoing relationship with Land Securities following on from the New Street Square and Dashwood House projects, which are due for completion in 2008,” comments Noud Veeger, KONE EVP, Area Director for Central and North Europe. “The construction market in London has developed well, which is partly due to the impact of the forthcoming 2012 Olympic Games.”

One New Change will be a development of exceptional quality, which has been carefully designed to create a vibrant commercial hub in London City. With its 52,000 square meters of retail and office space, One New Change is set to become a landmark retail and office development in the City.

The scheme will be equipped with 32 KONE elevators, of which 2 are fully external scenic design, and 13 KONE escalators. The installation of the equipment will start in December 2009 and is scheduled for completion in October 2010.

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 or +358 (0)50 384 9440