Proposal for the composition of the Board of Directors of KONE Corporation

Stock Exchange Release Published 23/01/2009

The Board of Directors’ Nomination and Compensation Committee of KONE Corporation will propose to the Annual General Meeting of KONE Corporation, to be held February 23, 2009, that the number of board members be eight, with an additional deputy member.

The Nomination and Compensation Committee will propose that Anne Brunila, Juhani Kaskeala and Shunichi Kimura be elected as new Board members. Antti Herlin (Chairman of the Board), Sirkka Hämäläinen-Lindfors (Vice Chairman), Matti Alahuhta, Reino Hanhinen, Sirpa Pietikäinen and Jussi Herlin (as a Deputy Member) would continue on the Board. From the current Board members, Masayuki Shimono and Iiro Viinanen would resign from the Board. KONE extends its gratitude to both Mr. Shimono and Mr. Viinanen for their significant contribution as Members of the Board.

Anne Brunila, D.Sc. (Econ.), born 1957, has served as President of the Finnish Forest Industries Federation since 2006. She is also a member of the Board of Sampo plc, The Research Institute of the Finnish Economy, the Finnish Business and Policy Forum and Aalto University Foundation. Previously, she has served as the General Director of the Finnish Ministry of Finance and in several advisory and executive positions in the Bank of Finland and the European Commission.

Juhani Kaskeala, Admiral, born 1946, has served as Commander of the Finnish Defence Forces and as a member of the Military Committee of the European Union since 2001. During his earlier military career, he has served as Military Assistant to the President of the Republic of Finland and as a Defence Attaché in London, the Hague and Brussels.

Shunichi Kimura, born 1951, has served as President and CEO of Toshiba Elevator and Building Systems Corporation, alliance partner of KONE, since June 2008. He has previously served in different positions in the Toshiba Group since 1975.

About KONE

KONE’s objective is to offer the best people flow experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. KONE provides its customers with industry-leading elevators, escalators and innovative solutions for modernization and maintenance, and is one of the global leaders in its industry. In 2008, KONE had annual net sales of EUR 4.6 billion and over 34,800 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.

2009-01-23 Proposal for the composition of the Board of Directors of KONE Corporation

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