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Pekka Vartiainen Appointed President of KONE’s Load Handling Business

Press Release Published 22/05/2003

Mr. Pekka Vartiainen, M.Sc. (Eng), 46, has been appointed President of KONE’s Load Handling business, Partek Cargotec, which is part of the Materials Handling division. He will assume the position in June 2003.

Pekka Vartiainen has previously worked in several positions for ESAB, the world's leading supplier of welding and cutting products. He is currently employed as ESAB’s Regional Director for the Nordic countries as well as Managing Director of ESAB A/S Norway, ESAB AS Denmark and Oy ESAB in Finland.

The previous President of Partek Cargotec, Olof Elenius, has been appointed Managing Director of Nummi Oy Ab, which is also part of Materials Handling, as of May 1, 2003.

KONE Corporation

Tapio Hakakari
Secretary to the Board of Directors

Outi-Maria Liedes
Senior Vice President
Corporate Communications & IR

For further information, please contact:
Carl-Gustaf Bergström
President, KONE Materials Handling
tel. +358 (0)204 55 4999

Outi-Maria Liedes
Senior Vice President
Corporate Communications & IR, KONE
tel. +358 (0)204 75 4501

KONE is a global service and engineering company that specializes in moving people and goods. Annual net sales total EUR 5,500 million, and we employ nearly 35,000 people. KONE's B shares are listed on the Helsinki Exchanges.