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KONE Wins Major Service Contract for the London Underground

Press Release Published 11/05/2006

Tube Lines Ltd., which is responsible for the maintenance and upgrade of the infrastructure on the Jubilee, Northern and Piccadilly lines for the London Underground, has signed a 12-year service contract with KONE involving maintenance, replacement and refurbishment of escalators on the Jubilee Line extension as needed. The value of the contract over the 12-year period is approximately EUR 195 million.

“The contract solidifies a long-term relationship between Tube Lines and KONE. It shows the trust this customer places in KONE’s global design and asset management expertise while encouraging innovation, collaboration and knowledge-sharing to drive performance throughout the life of the contract,” comments KONE Executive Vice President, Central and North Europe, Noud Veeger.

KONE completed installation of the Jubilee Line extension’s escalators in 2000 and has been responsible for their maintenance ever since. The Jubilee Line is the Underground's newest line. Including the extension, the entire Jubilee Line covers 36 km and serves 128 million passengers annually at 27 stations between Stanmore and Stratford.

Sender:

KONE Corporation

Noud Veeger
Executive Vice President,
Area Director, Central and North Europe

Minna Mars,
Senior Vice President,
Corporate Communications & IR

For further information, please contact:
Noud Veeger, Executive Vice President, Area Director, Central and North Europe, tel. +44 (0)870 774 8234
Paul Chamberlain, Managing Director, KONE U.K., tel. +44 (0) 870 774 8211
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 its customers with industry-leading elevators and escalators and innovative solutions for their maintenance and modernization. KONE also provides maintenance of automatic building doors. In 2005, KONE had annual net sales of EUR 3.2 billion and about 27,000 employees. Its class B shares are listed on the Helsinki Exchanges.

www.kone.com