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KONE’s Chairman of the Board, Pekka Herlin, Passes Away

Stock Exchange Release Published 04/05/2003

The long-standing chairman of the Board of Directors of KONE Corporation, Pekka Herlin, passed away on April 4, 2003 after a lengthy illness.

Pekka Herlin became a member of KONE’s Board of Directors in 1954. He was vice president of the company from 1962 to 1964, president from 1964 to 1986, and chairman of the Board from 1987 up until his death. Through acquisitions and strong organic growth, Pekka Herlin developed KONE into a large-scale, global group whose products and services are industry leaders.

In accordance with KONE’s Articles of Association, a shareholder meeting will choose a new chairman of the Board. CEO and deputy chairman of the Board Antti Herlin is presently acting as chairman of the Board.

Sender:

KONE Corporation

Tapio Hakakari
Secretary to the Board of Directors

Outi-Maria Liedes
Senior Vice President
Corporate Communications & IR

For more information, please contact:
Tapio Hakakari, Secretary to the Board of Directors, KONE, tel. +358 (0)400 408 316